Pennsylvania Act 2001-111 — PORT OF PITTSBURGH COMMISSION ACT - AMEND PORT DISTRICT DEFINITION AND ECONOMIC DEVELOPMENT PROJECTS

Act text

PORT OF PITTSBURGH COMMISSION ACT - AMEND PORT DISTRICT DEFINITION AND
                      ECONOMIC DEVELOPMENT PROJECTS
                 Act of Dec. 17, 2001, P.L. 939, No. 111              Cl. 64
                             Session of 2001
                               No. 2001-111

     SB 1180

                                  AN ACT

     Amending the act of December 14, 1992 (P.L.818, No.133),
        entitled "An act establishing the Port of Pittsburgh
        Commission; providing for its powers and duties; and making a
        repeal," further defining "port district"; and further
        providing for economic development projects.

        The General Assembly of the Commonwealth of Pennsylvania
     hereby enacts as follows:

        Section 1.  The definition of "port district" in section 2 of
     the act of December 14, 1992 (P.L.818, No.133), known as the
     Port of Pittsburgh Commission Act, is amended to read:
      Section 2.  Definitions.
        The following words and phrases when used in this act shall
     have the meanings given to them in this section unless the
     context clearly indicates otherwise:
        * * *
        "Port district."  The combined geographical territory of the
     Counties of Allegheny, Armstrong, Beaver, Butler, Clarion,
     Fayette, Greene, Indiana, Lawrence, Washington and Westmoreland.
        * * *
        Section 2.  Section 5.1 of the act, added December 20, 2000
     (P.L.988, No.140), is amended to read:
      Section 5.1.  Economic development projects.
        [When the commission undertakes the development of a port
     facility, port-related project or recreation project and the
     commission agrees to lease, lease with option or contract to
     purchase, sell or otherwise make available to a third party the
     port facility, port-related project or recreation project, the
     third party shall pay the commission an amount that is
     sufficient to pay all of the principal and interest on any
     bonds, notes or other evidence of indebtedness issued by the
     commission to finance the port facility, port-related project or
     recreation project, an amount which the board finds to be
     reasonable in light of the economic benefits that will result
     from the project or an amount which is reasonable and proper
     under the circumstances. Bonds, notes or other evidence of
     indebtedness issued by the commission with respect to a port
     facility, port-related project or recreation project under this
     section shall be limited obligations of the commission payable
     solely out of any revenues received by the commission with
     respect to the port facility, port-related project or recreation
     project, including, but not limited to, the payments received
     from the third party under this section, and the interest of the
     commission in the port facility, port-related project or
     recreation project, if any. The provisions of sections 5(b)(23),
     7(c) and 11(a) shall not apply to a port facility, port-related
     project or recreation project developed under this section.]
        (a)  Payments.--When a person other than a Commonwealth
     agency, as that term is defined in 62 Pa.C.S. § 103 (relating to
     definitions), requests the commission to acquire, lease,
     construct, renovate and/or equip an economic development project
     and to lease, sublease, sell or otherwise make available the
     economic development project to the person, the person shall pay
     the commission pursuant to the lease, sublease, contract of sale
     or disposition or similar agreement an amount which meets any
     one of the following criteria:
            (1)  An amount which is sufficient to pay all the
        principal and interest on any bonds, notes or other evidences
        of indebtedness issued by the commission to finance the
        economic development project.
            (2)  An amount which the commission finds to be
        reasonable in light of the economic benefits that will result
        from the economic development project.
            (3)  An amount which is reasonable and proper under the
        circumstances.
        (b)  Commission obligation.--A bond, note or other evidence
     of indebtedness issued by the commission with respect to an
     economic development project undertaken in accordance with
     subsection (a) shall not be a general obligation of the
     commission but rather shall be a limited obligation of the
     commission payable solely out of any of the following:
            (1)  Any revenues received by the commission with respect
        to the economic development project, including, but not
        limited to, the payments received from the person under this
        section, and any right, title and interest of the commission
        in the economic development project.
            (2)  Any reserve fund established by the commission
        specifically for such projects.
        (c)  Commonwealth obligation.--The Commonwealth shall have no
     obligation with respect to a bond, note or other evidence of
     indebtedness issued by the commission, or to any other
     obligations of the commission, arising out of or related to an
     economic development project undertaken in accordance with
     subsection (a).
        (d)  Construction.--The provisions of sections 5(b)(23), 7(c)
     and 11(a) shall not apply to an economic development project
     undertaken in accordance with subsection (a). For the purposes
     of this section an economic development project shall mean a
     port facility or port-related project and shall also mean a
     recreation project developed upon the lands bordering or in
     close proximity to the waters or on the waters of the inland
     waterway system of the Port of Pittsburgh.
        Section 3.  This act shall take effect immediately.

     APPROVED--The 17th day of December, A. D. 2001.

     MARK S. SCHWEIKER