PRINTER'S NO. 3845
No. 2814 Session of 1978
INTRODUCED BY POTT, STEWART, TADDONIO AND TRELLO,
SEPTEMBER 25, 1978
REFERRED TO COMMITTEE ON TRANSPORTATION, SEPTEMBER 25, 1978
AN ACT
1 Amending the act of July 16, 1941 (P.L.386, No.149), entitled,
2 as amended, "An act providing for the establishment,
3 construction, operation and maintenance of a mountain ridge
4 road or parkway in the Pocono Mountains through, bordering or
5 accessible to the counties of Monroe, Northampton, Carbon,
6 Luzerne, Lackawanna, Wayne and Pike, to be known as the
7 "Pocono Mountain Memorial Parkway"; providing for the
8 creation of the Pennsylvania Parkway Commission, and
9 conferring powers, and imposing duties on said commission;
10 authorizing the issuance of parkway revenue bonds of the
11 Commonwealth, payable solely from tolls, to pay the cost of
12 such parkway; providing that no debt of the Commonwealth
13 shall be incurred in the exercise of any of the powers
14 granted by this act; providing for the collection of tolls
15 for the payment of such bonds and for the cost of
16 maintenance, operation and repair of the parkway; making such
17 bonds exempt from taxation; constituting such bonds legal
18 investments in certain instances; prescribing conditions upon
19 which such parkway shall become free; providing for
20 condemnation; granting certain powers and authority to
21 municipal subdivisions and other agencies of the Commonwealth
22 to cooperate with the commission; conferring powers and
23 imposing duties on the Department of Highways and authorizing
24 the issuance of parkway revenue refunding bonds," changing
25 provisions relating to the setting and revision of tolls and
26 making editorial changes.
27 The General Assembly of the Commonwealth of Pennsylvania
28 hereby enacts as follows:
29 Section 1. Section 13, act of July 16, 1941 (P.L.386,
30 No.149), entitled, as amended, "An act providing for the
1 establishment, construction, operation and maintenance of a
2 mountain ridge road or parkway in the Pocono Mountains through,
3 bordering or accessible to the counties of Monroe, Northampton,
4 Carbon, Luzerne, Lackawanna, Wayne and Pike, to be known as the
5 "Pocono Mountain Memorial Parkway"; providing for the creation
6 of the Pennsylvania Parkway Commission, and conferring powers,
7 and imposing duties on said commission; authorizing the issuance
8 of parkway revenue bonds of the Commonwealth, payable solely
9 from tolls, to pay the cost of such parkway; providing that no
10 debt of the Commonwealth shall be incurred in the exercise of
11 any of the powers granted by this act; providing for the
12 collection of tolls for the payment of such bonds and for the
13 cost of maintenance, operation and repair of the parkway; making
14 such bonds exempt from taxation; constituting such bonds legal
15 investments in certain instances; prescribing conditions upon
16 which such parkway shall become free; providing for
17 condemnation; granting certain powers and authority to municipal
18 subdivisions and other agencies of the Commonwealth to cooperate
19 with the commission; conferring powers and imposing duties on
20 the Department of Highways and authorizing the issuance of
21 parkway revenue refunding bonds," is amended to read:
22 Section 13. The parkway when completed and opened to traffic
23 shall be maintained and repaired by and under the control of the
24 commission, through the Department of [Highways] Transportation
25 of the Commonwealth, and all charges and costs for such
26 maintenance and repairs actually expended by said Department of
27 [Highways] Transportation shall be paid to it by the commission,
28 upon certification thereof, out of tolls. Such parkway shall
29 also be policed and operated by such force of police, toll-
30 takers and other operating employes as the commission may in its
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1 discretion employ.
2 The commission is hereby authorized to (a) [fix and to revise
3 from time to time tolls for the use of the parkway] recommend to
4 the General Assembly from time to time the setting and revision
5 of tolls for the use of the turnpike and the different parts of
6 sections thereof and to charge and collect the same, except that
7 no toll shall be collected from officers of the Departments of
8 [Forests and Waters, Game and Fish, or Highways,] Environmental
9 Resources or Transportation operating vehicles thereon, when on
10 official business of the Commonwealth and (b) contract with any
11 person, partnership, association or corporation desiring the use
12 of any part thereof, including the right of way adjoining the
13 paved portion for placing thereon telephone, telegraph, electric
14 light or power lines, gas stations, garages, stores, hotels,
15 restaurants and advertising signs or for any other purpose,
16 except for tracts for railroad or railway use, and to fix the
17 terms, conditions, rents and rates of charges for such use. Such
18 recommended toll revision shall be transmitted to the General
19 Assembly, and shall be placed on the calendar of each House for
20 the next legislative day following its receipt, and shall be
21 considered by each House within 15 legislative days. Failure of
22 the General Assembly to act within the prescribed period of time
23 shall be deemed an approval of the recommended toll revision at
24 the close of business on the final legislative day. Any toll
25 revision so approved shall take effect on the first day of the
26 calendar month immediately following the date of legislative
27 approval. Such tolls shall be so fixed and adjusted as to
28 provide a fund at least sufficient with other revenues of the
29 parkway, if any, to pay (a) the cost of maintaining, repairing
30 and operating the parkway and (b) the bonds and the interest
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1 thereon and all sinking fund requirements and other requirements
2 provided by the resolution authorizing the issuance of the bonds
3 or by the trust indenture as the same shall become due. Such
4 tolls shall not be subject to supervision or regulation by any
5 other State commission, board, bureau or agency. The tolls and
6 all other revenues derived from the parkway, except such part
7 thereof as may be required to pay the cost of maintenance,
8 repairing and operating the parkway and to provide such reserves
9 therefor as may be provided for in the resolution authorizing
10 the issuance of the bonds or in the trust indenture, shall be
11 set aside at such regular intervals as may be provided in such
12 resolution or such trust indenture in a sinking fund which is
13 hereby pledged to and charged with the payment of (1) the
14 interest upon such bonds as such interest shall fall due, (2)
15 the principal of the bonds as the same shall fall due, (3) the
16 necessary fiscal agency charges for paying principal and
17 interest, and (4) any premium upon bonds retired by call or
18 purchase as herein provided. The use and disposition of such
19 sinking fund shall be subject to such regulations as may be
20 provided in the resolution authorizing the issuance of bonds or
21 in the trust indenture, but, except as may otherwise be provided
22 in such resolution or trust indenture, such sinking fund shall
23 be a fund for the benefit of all bonds issued hereunder without
24 distinction or priority of one over another. Subject to the
25 provisions of the resolutions authorizing the issuance of bonds
26 or of the trust indenture, any moneys in such sinking fund in
27 excess of an amount equal to one year's interest on all bonds
28 then outstanding may be applied to the purchase or redemption of
29 bonds. All bonds so purchased or redeemed shall forthwith be
30 cancelled and shall not again be issued.
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1 Section 2. This act shall take effect in 60 days.
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