Pennsylvania Statutes Title 53 P.S. Municipal and Quasi-Municipal Corporations § 12720.307. Commonwealth pledges

(a) Bondholders.--The Commonwealth does hereby pledge to and agree with each and every obligee of the authority that the Commonwealth will not limit or alter the rights hereby vested in the authority in any manner inconsistent with the obligations of the authority to such obligees until all bonds at any time issued, together with the interest thereon, are fully paid and discharged.  The Commonwealth does further pledge to and agree with any Federal agency that, in the event that any Federal agency shall contribute any funds to the authority for assistance to a city pursuant to this act, 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, the city and any such Federal agency.

(b) Lessees.--The Commonwealth does hereby pledge to and agree with any person who, as owner thereof, leases or subleases property to or from the authority, that the Commonwealth will not limit or alter the rights and powers hereby vested in the authority or otherwise created by this act in any manner which impairs the obligations of the authority until all such obligations of the authority under such lease or sublease are fully met and discharged.

(c) Reduction of pledged tax revenues.--If and to the extent that the authority pledges any proceeds of a tax authorized by law to be levied for the authority purposes or made available for use by the authority as security for bonds of the authority, or the city pledges any proceeds of a tax as security for payment by such city to the authority, the Commonwealth does hereby pledge to and agree with each and every obligee of the authority acquiring bonds so secured to be issued by the authority that the Commonwealth itself will not, nor will it authorize any government agency levying such tax to, reduce the rate of tax imposed for such authority or city purposes, or made available for use by the authority, until all bonds so secured by the pledge of the authority, together with the interest thereon, are fully paid or provided for or until all payments to the authority so secured by the pledge of the city have been made or provided for.