§ 17344. Transfer of existing facilities or money and making of annual grants and lease payments to authority.

467 words·~2 min read·/pa/title-16/chapter-173/17344

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)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, a convention center or part of a convention center, or an interest in property, real, personal or mixed, tangible or intangible, or 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 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. Nothing in this subchapter or any other law shall be deemed to make an authority or person a State-supported or State-aided institution under the laws of this Commonwealth.

(b)Grants.--

(1)Subject to paragraph (2), the governing bodies of the county and county seat may:

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

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

(iii)Enter into long-term agreements providing for the payment of the grants and assistance under subparagraphs

(i)and (ii).

(iv)Enter into long-term leases or subleases as lessee or sublessee of convention centers or parts of convention centers.

(2)Obligations of the county and county seat to make grants, lease or sublease payments to an authority may 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 convention centers or parts of convention centers.

(c)Bonds.-- The Commonwealth may contribute to the capital costs of constructing a convention center by the issuance of Commonwealth bonds and notes 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 money of the Commonwealth may be expended under 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.

16c17345s