§ 15909.1. Issuance of revenue bonds for airport facilities in counties.

253 words·~1 min read·/pa/title-16/chapter-159/15909-1

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(a)General rule.-- In addition to present methods of financing, the county commissioners of counties of the second class A may issue revenue bonds, under 53 Pa.C.S. Pt. VII Subpt. B (relating to indebtedness and borrowing), for sufficient money for and toward the acquisition, construction, reconstruction, extension or improvement of airport facilities, including airports, terminals, hangars, parking areas and all other facilities, with bonds secured solely by the pledge of the whole or part of the fees, rents, tolls or charges derived from the ownership or operation of the facilities or for the use or service of the same.

(b)Lease of airport facilities.-- Airport facilities financed by the issuance of revenue bonds under this section may be leased by the county, in whole or in part, to a lessee or lessees for a period of years equal in time to the period of maturity of the issued bonds.

(c)Costs.-- Included in the cost of the issue may be costs and expenses incident to constructing and financing the facilities and selling and distributing the bonds.

(d)Construction.-- Nothing in this section shall be construed as modifying or restricting the power of any county of the third, fourth, fifth, sixth, seventh and eighth class to incur debt for the acquisition, construction, reconstruction, extension or improvement of airport facilities, including airports, terminals, hangers, parking areas and all other facilities necessary or appropriate, to the extent the power exists on December 23, 2018.

16c15910s