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Pennsylvania Statutes Title 16 P.S. Counties § 6143-B. Transfer of funds

Current as of January 01, 2022 | Updated by FindLaw Staff

(a)(1) The city and county may and are hereby authorized to make grants from current revenues to the district and to assist in defraying the costs of managing, operating, maintaining, financing and servicing the debt of regional assets or parts of regional assets, to enter into long-term agreements providing for payment of the costs and to enter into long-term leases or subleases as lessee or sublessee of all or part of a regional asset.

(2) Obligations of the city and county to make grants or lease or sublease payments to the district shall not, even if based on debt obligations of the district, constitute debts of the city and county within the meaning of any constitutional or statutory provision and shall be payable only to the extent that current revenues of the city and county are available.

(3) The city and county may issue general obligation bonds for the purpose of obtaining funds for the acquisition or improvement of regional assets or parts of regional assets.

(b) The Commonwealth may contribute to the capital costs of constructing regional assets by the issuance of Commonwealth bonds and notes under Article XVI-B of the act of April 9, 1929 (P.L. 343, No. 176),  1 known as “The Fiscal Code.” A project undertaken by the district is hereby deemed to be a redevelopment assistance project under which capital funds of the Commonwealth may be expended under the provisions of the act of May 20, 1949 (P.L. 1633, No. 493),  2 known as the “Housing and Redevelopment Assistance Law,” and, notwithstanding any provisions of the Housing and Redevelopment Assistance Law, the Department of Community Affairs is hereby authorized to make capital grants directly to the district in furtherance of this article.

1 72 P.S. § 1601-B et seq. (repealed); see now, 72 P.S. § 8901-B et seq.
2 35 P.S. § 1661 et seq.
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Cite this article: FindLaw.com - Pennsylvania Statutes Title 16 P.S. Counties § 6143-B. Transfer of funds - last updated January 01, 2022 | https://codes.findlaw.com/pa/title-16-ps-counties/pa-st-sect-16-6143-b/

Read this complete Pennsylvania Statutes Title 16 P.S. Counties § 6143-B. Transfer of funds on Westlaw

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