Pennsylvania § 6015 Transfer of existing facilities or funds; making of annual grants and lease payments

Pennsylvania Statutes

§ 6015 — Transfer of existing facilities or funds; making of annual grants and lease payments

Pennsylvania·Title 64 PUBLIC AUTHORITIES AND QUASI-PUBLIC CORPORATIONS·Part PART III·Ch. 60 PENNSYLVANIA CONVENTION CENTER AUTHORITY

Commonwealth bonds.

(a)Authority granted.--

(1)A State public body, political subdivision or the city may sell, lease or sublease from or to, lend, grant, convey or otherwise transfer or pay over directly to the authority, with or without consideration, any of the following:

(i)A convention center or parts of a convention center.

(ii)Any interest in property, real, personal or mixed, tangible or intangible.

(iii)Any funds available, needed or obligated for development, acquisition, design, maintenance, management, operation, financing, leasing or subleasing construction, expansion or substantial renovation or improvement purposes. This subparagraph includes the proceeds of bonds previously or hereafter issued for construction or improvement of a convention center or parts of a co

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Commonwealth bonds.

(a) Authority granted.--

(1) A State public body, political subdivision or the city may sell, lease or sublease from or to, lend, grant, convey or otherwise transfer or pay over directly to the authority, with or without consideration, any of the following:

(i) A convention center or parts of a convention center.

(ii) Any interest in property, real, personal or mixed, tangible or intangible.

(iii) Any funds available, needed or obligated for development, acquisition, design, maintenance, management, operation, financing, leasing or subleasing construction, expansion or substantial renovation or improvement purposes. This subparagraph includes the proceeds of bonds previously or hereafter issued for construction or improvement of a convention center or parts of a convention center.

(iv) Notwithstanding any other provision of law, any grant shall be made directly to the authority.

(2) Any property, funds or convention center or parts of a convention center received by the authority may be used for any lawful purpose of the authority.

(3) Nothing in this chapter nor in any other law shall be deemed to make an authority or any persons, State-supported or State-aided institutions under any laws of this Commonwealth.

(b) Grants authorized.--

(1) A city may do any of the following:

(i) Make grants from current revenue to the authority.

(ii) Assist in defraying the cost of management, operation, maintenance, financing and debt service of a convention center or parts of a convention center.

(iii) Enter into long-term agreements providing for the payment of grants made or costs defrayed 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 a city 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 city within the meaning of any constitutional or statutory provision and shall be payable only to the extent that current revenues of the city are available.

(3) A city may issue general obligation bonds for the purpose of obtaining funds for local contributions pertaining to convention centers or parts of convention centers.

Pennsylvania § 6015 (Transfer of existing facilities or funds; making of annual grants and lease payments) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.