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Transfer of existing facilities or funds; making of annual grants and lease payments to authority; Commonwealth bonds - 64 Pa. Cons. Stat. § 6015

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     § 6015.  Transfer of existing facilities or funds; making of
                annual grants and lease payments to authority;
                Commonwealth bonds.
        (a)  Authority granted.--
            (1)  A State public body, political subdivision or the
        city may sell, lease or sublease from or to, lend, grant,
        convey or otherwise transfer or pay over directly to the
        authority, with or without consideration, any of the
        following:
                (i)  A convention center or parts of a convention
            center.
                (ii)  Any interest in property, real, personal or
            mixed, tangible or intangible.
                (iii)  Any funds available, needed or obligated for
            development, acquisition, design, maintenance,
            management, operation, financing, leasing or subleasing
            construction, expansion or substantial renovation or
            improvement purposes. This subparagraph includes the
            proceeds of bonds previously or hereafter issued for
            construction or improvement of a convention center or
            parts of a convention center.
                (iv)  Notwithstanding any other provision of law, any
            grant shall be made directly to the authority.
            (2)  Any property, funds or convention center or parts of
        a convention center received by the authority may be used for
        any lawful purpose of the authority.
            (3)  Nothing in this chapter nor in any other law shall
        be deemed to make an authority or any persons, State-
        supported or State-aided institutions under any laws of this
        Commonwealth.
        (b)  Grants authorized.--
            (1)  A city may do any of the following:
                (i)  Make grants from current revenue to the
            authority.
                (ii)  Assist in defraying the cost of management,
            operation, maintenance, financing and debt service of a
            convention center or parts of a convention center.
                (iii)  Enter into long-term agreements providing for
            the payment of grants made or costs defrayed under
            subparagraph (i) or (ii).
                (iv)  Enter into long-term leases or subleases as
            lessee or sublessee of all or part of a convention
            center.
            (2)  Obligations of a city to make grants, lease or
        sublease payments to an authority shall not, even if based on
        debt obligations of an authority, constitute debts of the
        city within the meaning of any constitutional or statutory
        provision and shall be payable only to the extent that
        current revenues of the city are available.
            (3)  A city may issue general obligation bonds for the
        purpose of obtaining funds for local contributions pertaining
        to convention centers or parts of convention centers.

        Cross References.  Section 6015 is referred to in section
     6016 of this title.

Last modified: November 27, 2007