The Authority is created for the purpose of acquiring, financing, refinancing, constructing, improving, furnishing, equipping, maintaining and operating buildings for public school and educational broadcasting facilities for use as a part of the public school system of the Commonwealth of Pennsylvania under the jurisdiction of the Department of Education. The Authority also shall have for its purpose the acquiring, financing, refinancing, construction, improvement, furnishing, equipping, maintenance and operation of community college buildings.
The Authority is hereby granted and shall have and may exercise all the powers necessary or convenient for the carrying out of the aforesaid purposes, including but without limiting the generality of the foregoing, the following rights and powers:
(a) To have perpetual existence as a corporation;(b) To sue and be sued, implead and be impleaded, complain and defend, in all courts;(c) To adopt, use and alter at will a corporate seal;(d) To acquire, purchase, hold, lease as lessee, and use any property real, personal or mixed, tangible or intangible, or any interest therein, (necessary or desirable) for carrying out the purposes of the Authority, and to sell, lease as lessor, transfer and dispose of any property or any interest therein at any time acquired by it;(d.1) To finance projects by making loans to any eligible school district or board of trustees of a community college, which loans may be evidenced by and secured as may be provided in loan agreements, mortgages, security agreements or any other contracts, instruments or agreements, which may contain such provisions as the Authority shall determine necessary or desirable for the security or protection of the Authority or its bondholders. All such provisions shall be a part of the contract with the holders of the bonds of the Authority issued with respect to such project;(e) To acquire by purchase, lease or otherwise, and to construct, improve, maintain, repair and operate projects;(f) To make by-laws for the management and regulation of its affairs;(g) To appoint officers, agents, employes and servants, to prescribe their duties and to fix their compensation;(h) To fix, alter, charge and collect rentals, and other charges in respect of the facilities financed or for the services rendered by the Authority or projects thereof, at reasonable rates to be determined by it for the purpose of providing for the payment of the expenses of the Authority, not provided for by appropriation by the Commonwealth, or otherwise, the acquiring, financing, refinancing, construction, improvement, repair, equipping and furnishing, maintenance and operation of projects and any facilities and properties, the payment of the principal of, and interest on, any obligation, and to fulfill the terms and provisions of any agreements made with the purchasers or holders of any such obligations;(i) To borrow money for the purpose of financing or refinancing the cost of any project, make and issue negotiable notes, bonds, refunding bonds and other evidences of indebtedness or obligations (hereinafter called "bonds"), of the Authority, and to secure the payment of such bonds, or any part thereof, by pledge or deed of trust of all, or any of its revenues, rentals and receipts, and to make such agreements with the purchasers or holders of such bonds, or with others in connection with any such bonds, whether issued or to be issued as the Authority shall deem advisable, and in general to provide for the security for said bonds and the rights of the holders thereof;(j) To make contracts of every name and nature, and to execute all instruments necessary or convenient for the carrying on of its business;(j.1) To enter into contracts with the board of school directors of any school district, the members of which school board are members of any nonprofit community corporation having a Federal Communications Commission license for educational broadcasting stations, for the purpose of acquiring, financing, refinancing, constructing, improving, furnishing, equipping, maintaining and operating these facilities as a part of the public school system of the Commonwealth of Pennsylvania;(k) Without limitation of the foregoing, to borrow money, and accept grants from, and to enter into contracts, leases or other transaction with, any Federal agency;(l) To have the power of eminent domain;(m) To pledge, hypothecate or otherwise encumber, all or any of the revenues or receipts of the Authority as security for all, or any of, the obligations of the Authority;(n) To do all acts and things necessary or convenient to carry out the powers granted to it by this act or any other acts; Provided, however, That the Authority shall have no power, at any time or in any manner, to pledge the credit or taxing power of the Commonwealth or any of its school districts or local sponsors or boards of trustees of community colleges, nor shall any of its obligations or debts be deemed to be obligations of the Commonwealth, or any of its school districts or local sponsors or boards of trustees of any community college, nor shall the Commonwealth or any of its school districts or local sponsors or boards of trustees of any community college be liable for the payment of principal or interest on such obligations;
Provided, further, That all contracts between the Authority and school districts shall be conditioned upon the preparation of general plans for the orderly development of improved attendance areas, and administrative units and for the improved housing of the public schools of the Commonwealth. These plans shall be prepared cooperatively by local, county and State school authorities, in accordance with standards and regulations prescribed by the Department. The Department shall have authority and its duty shall be to review all construction projects to determine:
(1) The extent to which they conform to general county and State plans;(2) The amount of improvement to be brought about in attendance areas and administrative units;(3) The adequacy of the proposed building with respect to educational design, location, usefulness for community activities, safety, comfort and convenience;(4) The ability of the local school district or districts to amortize the cost of the project, and to defray the cost of operation and maintenance. No contract shall be executed between the Authority and school districts without the specific written approval of the Department.
Provided further, That all contracts between the Authority and local sponsors and/or boards of trustees of community colleges and/or the Department of Public Instruction shall be conditioned upon any approval of the State Board of Education or the Department of Public Instruction required by the act of August 24, 1963 (P.L. 1132), known as the "Community College Act of 1963."
1947, July 5, P.L. 1217, § 4. Amended 1949, April 20, P.L. 636, § 2; 1963, Aug. 24, P.L. 1191, §§ 1, 2; 1967, July 18, P.L. 175, §§ 2-4; 1982, Dec. 17, P.L. 1372, No. 314, §§ 2, 3, imd. effective; 1984, March 23, P.L. 138, No. 26, § 3, imd. effective.