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Limitation of powers - 64 Pa. Cons. Stat. § 6021Legal Research Home > Pennsylvania Statutes
§ 6021. Limitation of powers.
(a) Commonwealth pledge.--The Commonwealth pledges to and
agrees with any person, the city, political subdivision or
Federal agency subscribing to or acquiring the bonds to be
issued by the authority for the construction or improvement of a
convention center or parts of a convention center that the
Commonwealth will not limit or alter the rights and powers
vested in the authority by this chapter or otherwise created by
this chapter in any manner inconsistent with the obligations to
the bondholders until all bonds, together with the interest on
the bonds, are fully paid and discharged. The Commonwealth
further pledges to and agrees with any Federal agency that, in
the event any Federal agency shall construct or contribute any
funds for the construction or improvement of a convention center
or parts of a convention center, the Commonwealth will not alter
or limit the rights and powers of the authority in any manner
which would be inconsistent with the due performance of any
agreements between the authority and the Federal agency.
(b) Additional Commonwealth pledge.--The Commonwealth
pledges to and agrees with any person that, as owner of a
convention center, leases or subleases a convention center or
parts of a convention center to or from an authority created or
continued pursuant to this chapter that the Commonwealth will
not limit or alter the rights and powers vested by this chapter
in the authority or otherwise created by this chapter in any
manner which impairs the obligations of the authority until all
obligations of the authority under the lease or sublease are
fully met and discharged.
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Last modified: November 27, 2007 |