Title 74, TRANSPORTATION

(a) Imposition.--There is hereby imposed, effective July 1, 1984, an additional State tax of 1.5¢ per gallon, or fractional part thereof, on all fuels used or sold and delivered by distributors within this Commonwealth for use as fuel in propeller-driven piston aircraft or aircra…

(a) Grants.--Each year the owner of a public airport shall be eligible for a grant from the local real estate tax reimbursement portion of the Aviation Restricted Account. Except as otherwise provided in subsection (d), the grant shall be equal to the amount of local real estate …

Any applicant found not eligible for a grant, or for any portion thereof, shall receive written notice that his application has been denied and the reason for the denial.

(a) Terms.--Prior to applying for an appropriation under section 6122 (relating to allocation of funds), every public airport owner shall enter into an agreement with the department. This agreement shall specify that the owner shall continue to maintain the property for which the…

(a) Imposition.--There is hereby imposed, effective July 1, 1984, a State tax of 1.1¢ per gallon, or fractional part thereof, on all fuels used or sold and delivered by distributors within this Commonwealth for use as fuel in turbine-propeller jet, turbojet and jet-driven aircraf…

(a) Application.--The owner or operator of a public airport may apply for a loan from the Aviation Development Account. Applications for the loans shall be made in such manner and on such forms as are prescribed by the department. (b) Limits on loans.--The department may, prior t…

Any applicant deemed not eligible for a loan shall receive written notice that the loan has been denied and the reason for denial.

(a) Posting of security.--The department may, prior to its approval of any loan application, require that the applicant post with the department such security as will assure compliance with the terms of the loan. The amount that shall be posted shall not exceed 25% of the loan ap…

The Governor, Auditor General and State Treasurer are hereby authorized to borrow, by the issuance of limited obligations of the Commonwealth, money not exceeding $25,000,000 for aviation development throughout this Commonwealth.

(a) Issuance.--As evidence of the indebtedness authorized, limited obligation bonds of the Commonwealth payable solely from the Aviation Development Account may be issued from time to time for such terms and conditions of issue, redemption and maturity, rate or rates of interest …

(a) Public sale.--Whenever bonds are issued, they shall be offered for sale at not less than 98% of the principal amount and accrued interest and shall be sold by the Governor, Auditor General and State Treasurer to the highest and best bidder or bidders after due public advertis…

The Governor, Auditor General and State Treasurer are authorized to provide, by resolution, for the issuance of refunding bonds for the purpose of refunding any bonds issued under the provisions of this subchapter and then outstanding, either by voluntary exchange with the holder…

(a) Aviation Development Account.--The proceeds realized from the sale of bonds under the provisions of this subchapter and all payments of interest on loans made and repayments of principal on such loans shall be paid into the Aviation Development Account which is hereby establi…

The Auditor General shall prepare the necessary registry book to be kept in the office of the duly authorized loan and transfer agent of the Commonwealth for the registration of any bonds, at the request of owners thereof, according to the terms and conditions of issue directed b…

It is the duty of the Governor to include, in every budget submitted to the General Assembly, full information relating to the issuance of bonds by the Commonwealth for the payment of the interest on the bonds and the principal thereof at maturity.

All bonds issued under the authority of this subchapter shall be redeemed at maturity and all interest due from time to time shall be paid from the Aviation Development Account.

There is hereby appropriated to the State Treasurer, from the proceeds of the bonds issued, as much moneys as may be necessary for all costs and expenses in connection with the issue of sale and registration of the bonds in connection with this subchapter.