53 Pennsylvania Consolidated Statutes Chapter 55 - Parking Authorities

• Chapter Notes
• Section 5501 - Scope Of Chapter
  This chapter deals with parking authorities.
• Section 5502 - Declaration Of Policy
  The General Assembly finds and declares as follows: (1) Residential decentralization in municipalities has been accompanied by an ever-increasing trend in the number of...
• Section 5503 - 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...
• Section 5504 - Method Of Incorporation
  (a) Procedure.-- (1) If a legislative body desires to organize an authority under this chapter, it shall adopt a resolution or ordinance signifying intention...
• Section 5505 - Purposes And Powers
  (a) General.-- (1) The authority shall constitute a public body corporate and politic, exercising public powers of the Commonwealth as an agency of the...
• Section 5506 - Bonds
  (a) Authorization.-- (1) A bond must be authorized by resolution of the board. The resolution must specify all of the following: (i) Series. (ii)...
• Section 5507 - Bondholders
  (a) Rights and remedies.--The rights and the remedies conferred upon bondholders under this section shall be in addition to and not in limitation of...
• Section 5508 - Governing Body
  (a) Scope.--This section does not apply to cities of the first class. (b) Board.-- (1) The powers of an authority shall be exercised by...
• Section 5508.1 - Special Provisions For Authorities In Cities Of The First Class
  (a) Scope.--This section applies only to cities of the first class. (b) Initial.--Beginning on the effective date of this chapter, the powers of each...
• Section 5508.2 - Additional Special Provisions For Authorities In Cities Of The First Class; Mixed-use Projects
  (a) Scope.--This section applies only to cities of the first class. (b) Legislative finding.--It is hereby determined and declared that: (1) As a matter...
• Section 5508.3 - Restrictions On Authorities In Cities Of The First Class
  (a) Restricted activities, statement of financial interests; public meetings and records.-- (1) The following apply: (i) The provisions of the following statutes are specifically...
• Section 5509 - Acquisition Of Lands
  (a) Authorization.-- (1) Except as set forth in paragraph (2), the authority has the power to acquire by purchase or eminent domain proceedings either...
• Section 5510 - Money Of Authority
  (a) Treasurer.-- (1) Except as otherwise provided in this chapter, all money of an authority from whatever source derived shall be paid to the...
• Section 5510.1 - Management Of Authority Funds In Cities Of The First Class
  (a) General rule.-- (1) Except as otherwise provided in this chapter, all funds of an authority received from any source shall be delivered to...
• Section 5510.2 - Special Funds In Cities Of The First Class
  (a) General rule.--An authority, under resolutions adopted from time to time by the board, may establish and create such special funds as may be...
• Section 5510.3 - Bonds In Cities Of The First Class
  (a) General rule.-- (1) The bonds of the authority shall be authorized by resolution of the board. The resolution shall specify all of the...
• Section 5510.4 - Contracts With Obligees Of An Authority In Cities Of The First Class
  (a) General rule.--Except as otherwise provided in any resolution of an authority authorizing or awarding bonds, the terms thereof and of this chapter as...
• Section 5510.5 - Commonwealth Pledges In Cities Of The First Class
  (a) General rule.--The Commonwealth does hereby pledge to and agree with: (1) Any person, firm or corporation, government agency, whether in this Commonwealth or...
• Section 5510.6 - Provisions Of Bonds And Trust Indentures In Cities Of The First Class
  (a) General rule.--In connection with the issuance of bonds or the incurring of obligations under leases and in order to secure the payment of...
• Section 5510.7 - Funds Collected On Behalf Of A Municipality (Deleted By Amendment)
  § 5510.7. Funds collected on behalf of a municipality (Deleted by amendment). 2004 Amendment. Section 5510.7 was deleted by amendment July 16, 2004, P.L.758,...
• Section 5510.8 - Bonds To Be Legal Investments
  (a) General rule.--Bonds issued under this chapter are hereby made securities in which all public officers and the instrumentalities and agencies of the Commonwealth...
• Section 5510.9 - Validity Of Pledge
  (a) General rule.--Any pledge of or grant of a lien on or security interest in revenues of an authority or real or personal property...
• Section 5510.10 - Security Interest In Funds And Accounts
  (a) General rule.--Any moneys deposited in any fund created by the authority pledged to be used to pay debt service on bonds of the...
• Section 5510.11 - Limitation On Authority Under Federal Bankruptcy Code
  (a) General rule.--So long as an authority shall have outstanding any bonds issued under this chapter, the authority shall not be authorized to file...
• Section 5511 - Competition In Award Of Contracts
  (a) Services.-- (1) Except as set forth in paragraph (2), all construction, reconstruction, repair or work of any nature made by an authority if...
• Section 5512 - Use Of Projects
  (a) Regulations.--Subject to subsection (b), the use of the facilities of the authority and the operation of its business shall be subject to the...
• Section 5513 - Pledge By Commonwealth
  (a) Power of authorities.--The Commonwealth pledges to and agrees with any person, firm or corporation or Federal agency subscribing to or acquiring the bonds...
• Section 5514 - Termination Of Authority
  (a) Conveyance of projects.--When an authority has finally paid and discharged all bonds, with interest due, which have been secured by a pledge of...
• Section 5515 - Exemption From Taxation; Payments In Lieu Of Taxes
  The effectuation of the authorized purposes of authorities created under this chapter shall be for the benefit of the residents of municipalities, for the...
• Section 5516 - Transfer Of Existing Facilities To Authority
  (a) Authorization.--Any county, city, borough, town or township or any owner is authorized to sell, lease, lend, grant or convey to an authority a...
• Section 5517 - Severability
  The provisions of this chapter are severable. If any provision of this chapter or its application to any person or circumstance is held invalid,...

Last modified: October 8, 2016