Use of Projects

Act 498 of 1947, § 12, under STATE PUBLIC SCHOOL BUILDING AUTHORITY ACT.

Act 498 of 1947, § 12

Section 12. Use of Projects.--The use of the facilities acquired, financed, refinanced, constructed, improved, furnished, equipped, maintained and operated by the Authority and the operation of its business shall be subject to the rules and regulations from time to time adopted by the Authority: Provided, however, That the Authority shall not be authorized to do anything which will impair the security of the holders of the obligation of the Authority or violate any agreements with them or for their benefit.

(12 amended Mar. 23, 1984, P.L.138, No.26)