Pennsylvania Statutes
§ 1527 — Commonwealth pledges
Pennsylvania·Title 64 PUBLIC AUTHORITIES AND QUASI-PUBLIC CORPORATIONS·Part PART II·Ch. 15 COMMONWEALTH FINANCING AUTHORITY·Subch. BONDS
(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 vested in the authority or otherwise created by this chapter in any manner inconsistent with the obligations of the authority to its obligees until all bonds at any time issued, together with the interest on the bonds, are fully paid and discharged.
(b)Lessees.--The Commonwealth pledges and agrees with any person that, as owner of property which is leased or subleased to or from the authority, it will not limit or alter the rights and powers vested in the authority or otherwise created by this chapter in any manner which impairs the obligations of the authority until all the obligations of the authority under the lease or sublease
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Nearby Sections
15
§ 1501
Scope§ 1502
Construction§ 1504
Definitions§ 1511
Authority§ 1512
Board§ 1513
Powers§ 1514
Limitation§ 1521
Bonds issuance§ 1522
Commonwealth taxation§ 1523
Federal taxation§ 1526
Validity of pledge§ 1527
Commonwealth pledges