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Current as of January 01, 2025 | Updated by Findlaw Staff
The department shall have power and authority, with the approval of the Governor, to enter into contracts with the Authority, 1 to lease as lessee from the Authority any or all of the projects undertaken by the Authority for a term, with respect to each project, not exceeding thirty (30) years, at such rental or rentals as may be determined by the Authority, and upon the completion of the said projects, or when said projects are used or occupied by the Commonwealth, or at the time if earlier, when the Authority has determined that no further proceeds of any of its bonds are to be expended on such project or projects, the department shall have power and authority, with the approval of the Governor, to lease as lessee any or all of the projects for a term, with respect to each project leased, not exceeding thirty (30) years, from date of completion or occupancy, at such rental or rentals as may be determined by the Authority to be paid by the department in such installments and at such times as may be provided in the lease of the project. The use and occupancy by the Commonwealth of any project prior to its completion shall not be construed as a release to the Authority or its designated contractor from its duty to complete said project.
The department shall also have power and authority, with the approval of the Governor, to lease as lessee any equipment and furnishings from the Authority required for the use and occupancy of any project previously leased by the department, where such prior lease did not include such equipment and furnishings. Any lease hereafter executed may provide and existing leases may be amended to provide for the conveyance to the Commonwealth upon final payment of all rentals due under such lease by the department of all of the Authority's right, title and interest in and to the leased project.
Cite this article: FindLaw.com - Pennsylvania Statutes Title 71 P.S. State Government § 1707.9a. Contracts to lease and leases by department from authority - last updated January 01, 2025 | https://codes.findlaw.com/pa/title-71-ps-state-government/pa-st-sect-71-1707-9a/
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