(a)Authority to transfer.--
(1)A State public body or political subdivision may sell, lease or sublease from or to, lend, grant, convey or otherwise transfer or pay over to the authority, with or without consideration, any of the following:
(i)A convention center or part of a convention center.
(ii)An interest in property, real, personal or mixed, tangible or intangible.
(iii)Any money available, needed or obligated for development, acquisition, design, maintenance, management, operation, financing, leasing or subleasing, construction or improvement purposes, including the proceeds of bonds issued before or after November 3, 1999, for construction or improvement of a convention center or part of a convention center.
(2)Property, money, a convention center or part of a convention
Free access — add to your briefcase to read the full text and ask questions with AI
(a) Authority to transfer.--
(1) A State public body or political subdivision may sell, lease or sublease from or to, lend, grant, convey or otherwise transfer or pay over to the authority, with or without consideration, any of the following:
(i) A convention center or part of a convention center.
(ii) An interest in property, real, personal or mixed, tangible or intangible.
(iii) Any money available, needed or obligated for development, acquisition, design, maintenance, management, operation, financing, leasing or subleasing, construction or improvement purposes, including the proceeds of bonds issued before or after November 3, 1999, for construction or improvement of a convention center or part of a convention center.
(2) Property, money, a convention center or part of a convention center received by the authority may be used for any lawful purpose of the authority.
(3) Nothing in this subchapter or in any other law shall be deemed to make an authority or person a State-supported or State-aided institution under any law of this Commonwealth.
(b) Grants authorized.--
(1) Subject to paragraph (2), the governing bodies of the county and county seat are authorized to:
(i) Make grants from current revenues to the authority.
(ii) Assist in defraying the costs of management, operation, maintenance, financing and debt service of a convention center or part of a convention center.
(iii) Enter into long-term agreements providing for payments 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 the county and county seat 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 county and county seat within the meaning of any constitutional or statutory provision and shall be payable only to the extent that current revenues of the county and county seat are available.
(3) The county and county seat may issue general obligation bonds for the purpose of obtaining money for local contributions pertaining to a convention center or part of a convention center.
(c) Capital costs.--The Commonwealth may contribute to the capital costs of constructing a convention center by the issuance of Commonwealth bonds and notes under Article XIX-B of the act of March 4, 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971, or under Chapter 3 of the act of February 9, 1999 (P.L.1, No.1), known as the Capital Facilities Debt Enabling Act. A convention center project undertaken by the authority is deemed to be a redevelopment assistance project for which capital funds of the Commonwealth may be expended under the provisions of the act of May 20, 1949 (P.L.1633, No.493), known as the Housing and Redevelopment Assistance Law, and, notwithstanding any provisions of the Housing and Redevelopment Assistance Law, the Department of Community and Economic Development may make capital grants directly to the authority in furtherance of this subchapter.