PRINTER'S NO. 3950
No. 2937 Session of 1980
INTRODUCED BY STEWART, HALVERSON, S. E. HAYES, JR., DIETZ,
GEIST AND TELEK, SEPTEMBER 23, 1980
REFERRED TO COMMITTEE ON LOCAL GOVERNMENT, SEPTEMBER 23, 1980
AN ACT
1 Amending the act of August 9, 1955 (P.L.323, No.130), entitled
2 "An act relating to counties of the third, fourth, fifth,
3 sixth, seventh and eighth classes; amending, revising,
4 consolidating and changing the laws relating thereto,"
5 authorizing the issuance of non-debt revenue bonds for
6 regional authorities and authority to request a referendum
7 and making editorial corrections.
8 The General Assembly of the Commonwealth of Pennsylvania
9 hereby enacts as follows:
10 Section 1. Subdivision (z) of Article XIX, act of August 9,
11 1955 (P.L.323, No.130), known as "The County Code," added
12 January 12, 1968 (P.L.4, No.3), is amended to read:
13 ARTICLE XIX
14 SPECIAL POWERS AND DUTIES OF COUNTIES
15 * * *
16 (z) Non-debt Revenue Bonds for Industrial Development Projects
17 Section 1999g. Issuance of Non-Debt Revenue Bonds for
18 Industrial Development Projects.--The board of commissioners of
19 any county is empowered to issue non-debt revenue bonds of the
20 county pursuant to provisions of the act of [June 25, 1941
1 (P.L.159), known as the "Municipal Borrowing Law,"] July 12,
2 1972 (P.L.781, No.185), known as the "Local Government Unit Debt
3 Act," and its amendments, to provide sufficient moneys for and
4 toward the acquisition, construction, reconstruction, extension,
5 equipping or improvement of an industrial development project or
6 projects, consisting of any building or facility or combination
7 or part thereof occupied or utilized by an industrial,
8 manufacturing, or research and development enterprise now
9 existing or hereafter acquired, including any or all buildings,
10 improvements, additions, extensions, replacements,
11 appurtenances, lands, rights in land, water rights, franchises,
12 machinery, equipment, furnishings, landscaping, utilities,
13 railroad spurs and sidings, wharfs, approaches and roadways
14 necessary or desirable in connection therewith or incidental
15 thereto, said bonds to be secured solely by the pledge of the
16 whole or part of the fees, rents, tolls or charges derived from
17 the ownership or operation of such facilities or for the use or
18 services of the same.
19 Said industrial development project or projects financed by
20 the issuance of non-debt revenue bonds as in this section
21 provided may be leased by the county in whole or in part to a
22 lessee or lessees for a period of years equal in time to the
23 period of maturity of the bonds so issued.
24 Included in the cost of the issue may be any costs and
25 expenses incident to constructing and financing the facilities
26 and selling and distributing the bonds.
27 The board of commissioners is further empowered to sell,
28 lease, lend, grant, convey, transfer or pay over to any
29 authority created pursuant to the act of August 23, 1967
30 (P.L.251, No.102), known as the "Industrial and Commercial
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1 Development Authority Law," with or without consideration, any
2 project or any part or parts thereof, or any interest in real or
3 personal property or any funds available for industrial
4 development purposes, including the proceeds of non-debt revenue
5 bonds hereafter issued pursuant hereto, for industrial
6 development purposes, and to assign, transfer and set over to
7 any such authority any contracts which may have been awarded for
8 the construction of projects not begun or, if begun, not
9 completed.
10 The board of commissioners of each county who have
11 incorporated a regional authority are further empowered to issue
12 non-debt revenue bonds to assist in the financing of regional
13 authorities created by such act, and may put such question to a
14 referendum at a primary, municipal or general election for
15 consent to issue said bonds.
16 The board of commissioners are further empowered to enter
17 into any and all contracts or agreements with any such authority
18 and/or with any tenant or proposed tenant of any industrial
19 development project and to do any or all things necessary or
20 proper to effectuate the public purpose of this section.
21 Section 2. This act shall take effect immediately.
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