Skip to main content
Find a Lawyer

Pennsylvania Statutes Title 53 P.S. Municipal and Quasi-Municipal Corporations § 12720.204. Term of existence of authority

Current as of January 01, 2026 | Updated by Findlaw Staff

(a) General rule.--The authority shall have continuing existence and succession until the later of:

(1) January 2, 2047;  or

(2) one year after all of the authority's liabilities, including without limitation, its bonds, have been fully paid or discharged or, in the case of authority bonds, one year after provision for such payment shall have been made as provided for in the applicable bond indenture.

(b) Property at termination.--Upon the termination of the existence of the authority, all of its rights and properties, including funds remaining in the debt service reserve fund, shall be paid to the Commonwealth to the extent the Commonwealth has contributed such rights or property;  otherwise, such rights or property shall pass to and be vested in the assisted city.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Pennsylvania Statutes Title 53 P.S. Municipal and Quasi-Municipal Corporations § 12720.204. Term of existence of authority - last updated January 01, 2026 | https://codes.findlaw.com/pa/title-53-ps-municipal-and-quasimunicipal-corporations/pa-st-sect-53-12720-204/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard