§ 17319. Limitation of powers.
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/pa/title-16/chapter-173/17319A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 17319. Limitation of powers.
(a)Commonwealth pledge.--
(1)The Commonwealth pledges to and agrees with any person, the county, county seat, political subdivision or Federal agency subscribing to or acquiring the bonds issued by the authority for the construction or improvement of a convention center or part of a convention center that the Commonwealth will not limit or alter the rights vested in the authority in any manner inconsistent with the obligations to the bondholders until all bonds issued, together with the interest, are fully paid and discharged.
(2)The Commonwealth further pledges to and agrees with any Federal agency that in the event that the Federal agency constructs or contributes money to construct or improve a convention center or part of a convention center that the Commonwealth will not alter or limit the rights and powers of the authority in any manner which would be inconsistent with the due performance of any agreements between the authority and the Federal agency.
(b)Additional Commonwealth pledge.-- The Commonwealth pledges to and agrees with any person that as owner leases or subleases a convention center or part of a convention center to or from an authority created under this subchapter that the Commonwealth will not limit or alter the rights and powers vested in the authority or otherwise created under this subchapter in any manner which impairs the obligations of the authority until all obligations of the authority under the lease or sublease are fully met and discharged.
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