Pennsylvania Statutes Title 16 P.S. Counties § 5409. Issuance of non-debt revenue bonds for aeronautical facilities

In addition to present methods of financing the same, the county commissioners are empowered to issue non-debt revenue bonds pursuant to provisions of the act of June 25, 1941 (P.L. 159), known as the “Municipal Borrowing Law,” and its amendments,  1 to provide sufficient moneys for and toward the acquisition, construction, reconstruction, extension or improvement of aeronautical facilities, including but not limited to airports, terminals, hangars, parking areas and all other facilities either necessary thereto or appropriate therefor, said bonds to be secured solely by the pledge of the whole or part of the fees, rents, tolls or charges derived from the ownership or operation of such facilities or for the use or service of the same.

Said aeronautical facilities financed by the issuance of non-debt revenue bonds as in this section provided 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 bonds so issued.

Included in the cost of the issue may be any costs and expenses incident to constructing and financing the facilities and selling and distributing the bonds.