Title 64, PUBLIC AUTHORITIES AND QUASI-PUBLIC CORPORATIONS

(a) Establishment.--There is established an independent authority to be known as the Commonwealth Financing Authority. The authority shall be an instrumentality of the Commonwealth and a body corporate and politic, with corporate succession. (b) Governance.--The authority shall b…

(a) Composition.--The board shall be composed of the following members: (1) The Secretary of Community and Economic Development or a designee. (2) The Secretary of the Budget or a designee. (3) The Secretary of Banking or a designee. (4) Four legislative appointees. (i) Appointme…

(a) Powers.--The authority may do all of the following: (1) Adopt bylaws and guidelines proposed by the department as necessary. (2) Sue and be sued, implead and be impleaded, interplead, complain and defend in any court. (3) Adopt, use and alter a corporate seal. (4) Establish a…

Except upon foreclosure or default under a loan made under this chapter, the board may not approve an application or finance a project if the board or authority would be required to operate, service or maintain the project under a lease or other agreement.

(a) Authorization.--The authority may issue limited obligation revenue bonds and other types of limited obligation revenue financing. Bonds issued and financing incurred pursuant to this subchapter shall be subject to the limits set forth in section 1543 (relating to indebtedness…

(a) General.--The effectuation of the purposes of the authority is for the benefit of the people of this Commonwealth, for the increase of commerce and prosperity and for the improvement of health, safety, welfare and living conditions. (b) Authority.--Since the authority, as a p…

(a) Allocation.--If the bonds issued by the authority for a project are tax-exempt bonds for which Federal law requires an allocation, the department may issue an allocation upon receipt of a written request by the board. An allocation must be issued by the department prior to th…

(a) Presumption.--Bonds reciting in substance that they have been issued by the authority to accomplish the public purposes of this chapter shall be conclusively deemed in any suit, action or proceeding involving the validity or enforceability of the bonds or their security to ha…

A resolution authorizing the issuance of bonds or any trust agreement approved in or by a resolution authorizing the issuance of bonds may contain provisions which do any of the following: (1) Secure the bonds. (2) Covenant against any of the following: (i) Pledging or granting a…

A pledge of or grant of a security interest in revenues or instruments made by the authority shall be valid and binding from the time when the pledge is made. The revenues, receipts, money, funds or other property or instruments pledged and later received by the authority shall i…

(a) Bondholders.--The Commonwealth pledges to and agrees with each obligee of the authority that the Commonwealth will not limit or alter the rights and powers vested in the authority or otherwise created by this chapter in any manner inconsistent with the obligations of the auth…

(a) Investments.--Bonds issued pursuant to this chapter are made securities in which all of the following may properly and legally invest funds, including capital, deposits or other funds in their control or belonging to them: (1) Government agencies. (2) Insurance companies. (3)…

The rights and remedies conferred upon or granted to obligees of the authority pursuant to this chapter shall be in addition to and not in limitation of rights and remedies lawfully granted to obligees of the authority by the resolution providing for the issuance of bonds or by a…

The authority shall establish one or more trust accounts into which it shall deposit the proceeds of bonds authorized to be issued pursuant to section 1521 (relating to bonds issuance) to fund the programs established in Subchapter E (relating to programs) and any other moneys le…

(a) The Business in Our Sites Program account.--The authority shall establish an account for the program established in section 1551 (relating to Business in Our Sites Program). Proceeds of bonds issued to fund the Business in Our Sites Program and any moneys received as loan rep…

(a) General rule.--Subject to the limitations of subsection (b), the authority may, in its own name, incur indebtedness, including through the issuance of bonds, in an amount necessary to fund the program as established in Subchapter E (relating to programs) and in 12 Pa.C.S. Ch.…

(a) General rule.--Money of the authority shall be used by the board to fund the programs established in Subchapter E (relating to programs) and in 12 Pa.C.S. Ch. 29 (relating to machinery and equipment loans). (b) Transfer.--By December 31, 2006, the authority shall transfer in …

(a) Establishment.--There is established a program to be known as the Business in Our Sites Program. The program shall provide financial assistance for the preparation of sites located within this Commonwealth for future development. (b) Applications for planning grants.--A munic…

(a) Establishment.--There is established a program to be known as the First Industries Program. The program shall provide financial assistance for projects related to tourism and agriculture located within this Commonwealth. The board shall allocate funds made available to the pr…

(a) Establishment.--There is established a program to be known as the Dairy Investment Program. The program shall provide financial assistance in the form of grants for projects located within this Commonwealth that support the dairy industry. (b) Eligible applicants.--The follow…

(a) Establishment.--There is established a program to be known as the Second Stage Loan Program. The program shall provide loan guarantees to commercial lending institutions that make loans to life sciences, advanced technology or manufacturing businesses. (b) Application for enr…

(a) Establishment.--There is established a program to be known as the New Pennsylvania Venture Guarantee Program. The program shall provide guarantees to venture capital partnerships for investments in Pennsylvania-related companies which are in the early stage or mid-stage of de…

(a) Establishment.--There is established a program to be known as the Building Pennsylvania Program. The program shall provide loans to fund managers for investment in real estate projects within this Commonwealth. (b) Requests for proposals.--The board shall issue one or more re…

(a) Establishment.--There is established a program to be known as the Tax Increment Financing Guarantee Program. The program shall provide guarantees for tax increment financing bonds or other indebtedness issued in accordance with the act of July 11, 1990 (P.L.465, No.113), know…

(a) Establishment.--There is established a program to be known as the New Pennsylvania Venture Capital Investment Program. The program shall provide loans to venture capital partnerships for investment in Pennsylvania-related companies. The nature of the investments shall be equi…

(a) Establishment.--There is established a program to be known as the Water Supply and Wastewater Infrastructure Program. The program shall provide financial assistance in the form of single-year or multiyear grants to municipalities and municipal authorities and in the form of l…