Public Authorities And Quasi-Public Corporations - 64 Pa. Cons. Stat.

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PART I. PRELIMINARY PROVISIONS
Chapter 1. General Provisions (Reserved)
PART II. ECONOMIC DEVELOPMENT FINANCING
Chapter 11. Pennsylvania Industrial Development Authority
(Reserved)
Chapter 13. Pennsylvania Economic Development Financing
Authority (Reserved)
Chapter 15. Commonwealth Financing Authority
Subchapter A. General Provisions

• § 1501.  Scope.
  This chapter relates to the Commonwealth Financing Authority. ...
• § 1502.  Construction.
  (a) General rule.--This chapter shall be liberally construed in order to effect the legislative and public purposes as set forth in this subchapter. (b) Rights ...
• § 1503.  Findings and declaration of policy.
  The General Assembly finds and declares as follows: (1) Activities which lead to the creation and retention of jobs within this Commonwealth, the establishment of ...
• § 1504.  Definitions.
  The following words and phrases when used in this chapter shall have the meaning given to them in this section unless the context clearly indicates ...

Subchapter B. Structure and Powers

• § 1511.  Authority.
  (a) Establishment.--There is established an independent authority to be known as the Commonwealth Financing Authority. The authority shall be an instrumentality of the Commonwealth and ...
• § 1512.  Board.
  (a) Composition.--The board shall be composed of the following members: (1) The Secretary of Community and Economic Development or a designee. (2) The Secretary of ...
• § 1513.  Powers.
  (a) Powers.--The authority may do all of the following: (1) Adopt bylaws and guidelines proposed by the department as necessary. (2) Sue and be sued, ...
• § 1514.  Limitation.
  Except upon foreclosure or default under a loan made under this chapter, the board may not approve an application or finance a project if the ...

Subchapter C. Bonds

• § 1521.  Bonds issuance.
  (a) Authorization.--The authority may issue limited obligation revenue bonds and other types of limited obligation revenue financing. Bonds issued and financing incurred pursuant to this ...
• § 1522.  Commonwealth taxation.
  (a) General.--The effectuation of the purposes of the authority is for the benefit of the people of this Commonwealth, for the increase of commerce and ...
• § 1523.  Federal taxation.
  (a) Allocation.--If the bonds issued by the authority for a project are tax-exempt bonds for which Federal law requires an allocation, the department may issue ...
• § 1524.  Validity of bonds; limitation on actions.
  (a) Presumption.--Bonds reciting in substance that they have been issued by the authority to accomplish the public purposes of this chapter shall be conclusively deemed ...
• § 1525.  Provisions of bonds; trust agreements.
  A resolution authorizing the issuance of bonds or any trust agreement approved in or by a resolution authorizing the issuance of bonds may contain provisions ...
• § 1526.  Validity of pledge.
  A pledge of or grant of a security interest in revenues or instruments made by the authority shall be valid and binding from the time ...
• § 1527.  Commonwealth pledges.
  (a) Bondholders.--The Commonwealth pledges to and agrees with each obligee of the authority that the Commonwealth will not limit or alter the rights and powers ...
• § 1528.  Bonds to be legal investments.
  (a) Investments.--Bonds issued pursuant to this chapter are made securities in which all of the following may properly and legally invest funds, including capital, deposits ...
• § 1529.  Rights and remedies of obligees.
  The rights and remedies conferred upon or granted to obligees of the authority pursuant to this chapter shall be in addition to and not in ...

Subchapter D. Accounts, Indebtedness and Use

• § 1541.  Trust accounts.
  The authority shall establish one or more trust accounts into which it shall deposit the proceeds of bonds authorized to be issued pursuant to section ...
• § 1542.  Revolving loan program accounts.
  (a) The Business in Our Sites Program account.--The authority shall establish an account for the program established in section 1551 (relating to Business in Our ...
• § 1543.  Indebtedness.
  (a) General rule.--Subject to the limitations of subsection (b), the authority may, in its own name, incur indebtedness, including through the issuance of bonds, in ...
• § 1544.  Use.
  (a) General rule.--Money of the authority shall be used by the board to fund the programs established in Subchapter E (relating to programs) and in ...

Subchapter E. Programs

• § 1551.  Business in Our Sites Program.
  (a) Establishment.--There is established a program to be known as the Business in Our Sites Program. The program shall provide financial assistance for the preparation ...
• § 1552.  First Industries Program.
  (a) Establishment.--There is established a program to be known as the First Industries Program. The program shall provide financial assistance for projects related to tourism ...
• § 1553.  Second Stage Loan Program.
  (a) Establishment.--There is established a program to be known as the Second Stage Loan Program. The program shall provide loan guarantees to commercial lending institutions ...
• § 1554.  New Pennsylvania Venture Guarantee Program.
  (a) Establishment.--There is established a program to be known as the New Pennsylvania Venture Guarantee Program. The program shall provide guarantees to venture capital partnerships ...
• § 1555.  Building Pennsylvania Program.
  (a) Establishment.--There is established a program to be known as the Building Pennsylvania Program. The program shall provide loans to fund managers for investment in ...
• § 1556.  Tax Increment Financing Guarantee Program.
  (a) Establishment.--There is established a program to be known as the Tax Increment Financing Guarantee Program. The program shall provide guarantees for tax increment financing ...
• § 1557.  New Pennsylvania Venture Capital Investment Program.
  (a) Establishment.--There is established a program to be known as the New Pennsylvania Venture Capital Investment Program. The program shall provide loans to venture capital ...
• § 1558.  Water Supply and Wastewater Infrastructure Program.
  (a) Establishment.--There is established a program to be known as the Water Supply and Wastewater Infrastructure Program. The program shall provide financial assistance in the ...

PART III. PUBLIC AUTHORITIES
Chapter 60. Pennsylvania Convention Center Authority

• § 6001.  Scope of chapter.
  This chapter deals with convention center authorities in cities of the first class. ...
• § 6002.  Findings and declaration of policy.
  The General Assembly hereby finds and declares as follows: (1) The health, safety and general welfare of the people of this Commonwealth are directly dependent ...
• § 6003.  Definitions.
  The following words and phrases when used in this chapter shall have the meanings given to them in this section unless the context clearly requires ...
• § 6004.  Authority created; existing authority continued.
  A body corporate and politic named the Pennsylvania Convention Center Authority is created and continued as a public authority and instrumentality of the Commonwealth which ...
• § 6005.  Governing board.
  (a) Appointment.--Power of the authority shall be exercised by a governing board composed of 15 members. Except as provided in section 4 of the act ...
• § 6006.  Purposes and powers; general.
  (a) General powers.--An authority created and continued by this chapter shall exercise the public powers of the Commonwealth as an agency for the purpose, without ...
• § 6007.  Acquisition of lands.
  (a) Power.--If the authority deems it necessary for a purpose under this chapter, the authority has the power to acquire any of the following with ...
• § 6008.  Purposes and powers; bonds.
  (a) Authorization.-- (1) Bonds must be authorized by resolution of the board. A resolution authorizing the issuance of bonds must specify all of the following: ...
• § 6009.  Provisions of bonds, trusts, indentures and mortgages.
  In connection with the issuance of bonds or the incurring of obligations under leases and in order to secure the payment of the bonds and ...
• § 6010.  Remedies of obligee of authority.
  An obligee of the authority has the right, in addition to all other rights which may be conferred on the obligee, subject only to any ...
• § 6011.  Additional remedies conferrable by authority.
  (a) Additional remedies.--The authority has the power, by its resolution, trust, indenture or mortgage, to confer upon any obligees holding or representing a specified percentage ...
• § 6012.  Moneys of authority.
  (a) Paid to treasurer.--Unless otherwise provided by law, all money of the authority from whatever source derived shall be paid to the treasurer of the ...
• § 6013.  Capital and operating budgets.
  (a) Capital budget.--At least 90 days before the commencing of the ensuing fiscal year of the authority, the board shall cause to be prepared and ...
• § 6014.  Expansion financing.
  (a) Commonwealth funds.--Any grants of Commonwealth funds to the authority or for use by the authority to finance any expansion or substantial renovation of the ...
• § 6015.  Transfer of existing facilities or funds; making of annual grants and lease payments to authority; Commonwealth bonds.
  § 6015. Transfer of existing facilities or funds; making of annual grants and lease payments to authority; Commonwealth bonds. (a) Authority granted.-- (1) A State ...
• § 6016.  Award of contracts.
  (a) Lowest responsible bidder.--All construction, reconstruction, repairs or work of any nature made by the authority where the entire cost, value or amount of construction, ...
• § 6017.  Interests of public officers, public employees and party officers.
  § 6017. Interests of public officers, public employees and party officers. (a) Restrictions upon authority management-level employees.-- (1) No party officer, public officer, public official, ...
• § 6018.  Sovereign immunity.
  It is declared to be the intent of the General Assembly that the authority created pursuant to this chapter and its members, officers, officials and ...
• § 6019.  Use and operation of convention center.
  The use and operation of the convention center and any parts of a convention center and the operation of the business of the authority shall ...
• § 6020.  Convention center performance audits; annual performance reports.
  § 6020. Convention center performance audits; annual performance reports. (a) Convention center performance audits.--The board shall cause periodic performance audits of the convention center to ...
• § 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 ...
• § 6022.  Exemption from taxation.
  The effectuation of the authorized purposes of an authority created under this chapter shall be in all respects for the benefit of the people of ...
• § 6023.  Lease by authority.
  A convention center or part of a convention center established or continued under this chapter may be leased or subleased by the authority to and ...
• § 6024.  Cooperation.
  (a) State public bodies and political subdivisions may cooperate.--For the purpose of aiding and cooperating with the authority and in the planning, acquisition, clearance, relocation, ...
• § 6025.  Hotel room rental tax; continuation of existing tax.
  (a) Imposition of tax.--The council of the city in which the convention center is located is authorized to impose or continue to impose an excise ...
• § 6026.  Pennsylvania Convention Center Assistance Fund.
  There is established a special fund to be known as the Pennsylvania Convention Center Assistance Fund. The State Treasurer shall be custodian of the Pennsylvania ...

Last modified: November 22, 2007