Section 2399.55 - Purposes and powers generally(a) An authority created under this subdivision shall be a public body, corporate and politic, exercising public powers of the Commonwealth as an agency and instrumentality and shall be for the purpose, without limitation, by itself or by agreement in cooperation with others, of acquiring, holding, developing, designing, constructing, improving, maintaining, managing, operating, financing, furnishing, fixturing, equipping, repairing, leasing or subleasing, either in the capacity of lessor or lessee or sublessor or sublessee, and owning convention center facilities, or parts thereof. Such convention center facilities need not comprise a single, integrated complex but may be located at one or more locations within the county and may function independently of one another.(b) The authority is granted all powers necessary or convenient for the carrying out of the purposes in subsection (a), including, without limiting the generality of the foregoing, the following rights and powers:(1) To have continuing succession.(2) To sue and be sued, implead and be impleaded, complain and defend in all courts.(3) To adopt, use and alter at will a corporate seal.(4) To acquire by gift or otherwise, purchase, hold, receive, lease, sublease and use a license, franchise or property, real, personal or mixed, tangible or intangible, or any interest therein, including convention center facilities, or parts thereof, and to assume any obligations associated therewith, including leases, concession agreements, indebtedness and other contractual obligations which the authority deems necessary to accomplish the purpose of this subdivision.(5) To sell, transfer or dispose of property or an interest therein with adequate and fair consideration.(6) To acquire, hold, develop, design, construct, improve, maintain, manage, operate, furnish, fixture, equip, repair, own, lease or sublease convention center facilities, or parts thereof, and to make, enter into and award contracts with any person, association, partnership or corporation for the development, design, financing, construction, improvement, maintenance, operation, management, furnishing, fixturing, equipping and repair of convention center facilities, or parts thereof.(7) To make bylaws for the management and regulation of its affairs and issue rules, regulations and policies in connection with the performance of its functions and duties.(8) To appoint officers, agents, employes and servants, to prescribe their duties and to fix their compensation.(9) To fix, alter, charge and collect rentals, admissions, license fees and other charges.(10) To borrow money for the purpose of paying the costs of a project and to evidence the same; make and issue negotiable bonds of the authority; secure payment of the bonds, or any part thereof, by pledge or deed of trust of all or any of its revenues (including any hotel room rental tax), rentals, receipts and contract rights; make such agreements with the purchasers or holders of the bonds or with other obligees of the authority in connection with the bonds, whether issued or to be issued, as the authority shall deem advisable, which agreements shall constitute contracts with the holders or purchasers; obtain such credit enhancement or liquidity facilities in connection with the bonds as the authority shall determine to be advantageous; and, in general, provide for the security of the bonds and the rights of the bondholders.(11) To make, enter into and award contracts of every name and nature and to execute all instruments necessary or convenient for the carrying out of its business.(12) To borrow money and accept grants and to enter into contracts, leases, subleases, licenses or other transactions with any Federal agency, State public body, political subdivision, person, association, partnership or corporation.(13) To pledge, hypothecate or otherwise encumber its property, real, personal or mixed, tangible or intangible, and its revenues or receipts, including, but not limited to, any interest the authority may have in a lease or sublease of convention center facilities, or parts thereof.(14) To procure such insurance containing such coverages, including, without limitation, insurance covering the timely payment in full of principal of and interest on bonds of the authority, in such amounts, from such insurers, as the authority may determine to be necessary or desirable for its purposes.(15) To invest its money.(16) To cooperate with any Federal agency, State public body or political subdivision.(17) To invest funds held in reserve or sinking funds or funds not required for immediate disbursements as authorized by section 2399.63(d).(18) To appoint all officers, agents and employes required for the performance of its duties and compensation and retain or employ other agents or consultants, including, but not limited to, architects, auditors, engineers, private legal counsel and private consultants, on a contract basis or otherwise for rendering professional or technical services and advice.(19) To enroll its employes in an existing retirement system of the State, county, city or other governmental entity.(20) To appoint and fix the compensation of chief counsel and such assistant counsel to provide it with legal assistance, and the authority through its counsel shall defend actions brought against the authority and its officers and employes when acting within the scope of their official duties.(21) To maintain an office in the county seat.(22) To appoint an executive director who shall be the chief executive officer of the authority, who shall devote his full time during business hours to the duties of his office and who shall receive compensation as the board shall determine.(23) To make grants to the county in accordance with the provisions of subsection (e).(24) To do all acts and things necessary or convenient for the promotion of its purposes and the general welfare of the authority and to carry out the powers granted to it by this subdivision or any other act.(c)(1) The authority shall have no power to pledge the credit or taxing powers of a State public body, a political subdivision or the county, nor shall its obligations be deemed obligations of any State public body, a political subdivision or the county, nor shall any State public body, a political subdivision or the county be liable for the payment of principal or interest on such obligations.(2) The authority shall have no power of eminent domain.(d) The authority shall develop and implement an affirmative action plan to assure that all persons are accorded equality of opportunity in employment and contracting by the authority, its contractors, subcontractors, assignees, lessees, agents, vendors and suppliers.(e)(1) The authority shall have the power to make grants to the county for the financial support of regional assets located within the county. Any such grants shall be included in the capital budget adopted by the authority pursuant to section 2399.56(a) and may only be made if the authority finds, by resolution adopted by a majority vote of its members, that the making of such grants shall not adversely affect the short-term or long-term capital, operational and/or financial needs of the authority, or otherwise impair the ability of the authority to meet any contractual or legal obligations of the authority, including obligations owed to holders of bonds issued by the authority. Grants made under the authority of this clause:(i) shall not obligate funds of the authority beyond a single fiscal year of the authority;(ii) shall be payable to the county in a single lump sum or in installments during the fiscal year in question, as determined by the authority in its discretion; and(iii) may be rescinded or reduced by the authority if the authority, prior to payment of the grant, determines in its discretion that the then current and/or projected financial needs of the authority require reduction or rescission of the grant.(2) Grants received by the county from the authority under the provisions of clause (1) shall be deposited in a segregated account identified as the regional asset fund. The regional asset fund shall be used by the county solely for the purpose of making grants of financial support to regional assets located within the county in accordance with and subject to the limitations of this subsection. Funds deposited in the regional asset fund shall be invested only in those types of investments in which a county of the third class may invest general funds of the county under applicable law. Earnings on such investments shall become a part of the regional asset fund and may not be used for purposes other than those permitted under this subsection. The county shall not be required to disburse all of the funds in the regional asset fund during a particular fiscal year but may instead accumulate funds within the regional asset fund if the county, in its discretion, determines that the accumulation of such funds, in whole or in part, is appropriate for the effective and efficient long-term funding of regional assets.(3) The county shall have the authority to make grants of financial support for regional assets from the regional asset fund established under clause (2). Grants made by the county from the regional asset fund shall be subject to all of the following terms, conditions and limitations:(i) grants may only be made to: (A) political subdivisions located within the county; and(B) organizations which have been determined by the Internal Revenue Service to be organizations described in section 501(c)(3) of the Internal Revenue Code of 1986 ( Public Law 99-514, 26 U.S.C. § 1 et seq.) or any successor provision of law;(ii) grants may only be made for the purpose of supporting a specific regional asset located within the county and which is owned by the grantee or for which the grantee has operational and financial responsibility;(iii) grants may only be made pursuant to written grant agreements and executed by authorized officers of the county and the grantee, specifying the terms and conditions of the grant;(iv) the grant agreement shall describe with specificity the purpose for which the grant is being made;(v) the grant agreement shall set forth such other terms and conditions as the county, in its discretion, may prescribe, including requirements with respect to matching funds, continued financial support of the grantee for the regional asset with respect to which the grant is being made, and so forth; and(vi) no grant may obligate funds from the regional asset fund beyond a single twelve-month period.(4) For purposes of this subsection, the term "regional asset" means a civic, recreational, sports or cultural facility (including, but not limited to, zoos, museums and performing arts facilities), function or activity which is owned or provided by a political subdivision or section 501(c)(3) of the Internal Revenue Code of 1986 organization, or with respect to which a political subdivision or section 501(c)(3) of the Internal Revenue Code of 1986 organization has operational and financial responsibility. Notwithstanding the foregoing, the following shall not be considered regional assets:(i) any health care facility;(ii) any institution which predominantly provides elementary, secondary or higher education or other training;(iii) any Federal or State parks;(iv) any airports or public transportation systems or facilities;(vi) any paid or volunteer public safety organizations and facilities;(vii) any authority created under this subdivision, and any facilities owned or operated by such an authority; or(viii) any asset which fails to serve a significant number of persons who are not residents of the city, borough or township within which the asset is located.(5) The county shall have the authority to prescribe reasonable rules, regulations and procedures for: (i) the administration of the regional asset fund and the segregated account in which the regional asset fund is deposited;(ii) the making of grants from the regional asset fund; and(iii) the administration of grants made from the regional asset funds.(f) Net revenues received from the sale of rights for the naming or designation of any convention center facility, or portion thereof, shall be allocated in the following manner: (1) Fifty per centum of such revenues shall be distributed to the county for deposit in a segregated account identified as the regional asset fund, to be utilized as provided in subsection (e)(3).(2) Fifty per centum of such revenues shall be retained by the convention center authority established under this subdivision.(g) Subsection (f) shall not apply to a sale of rights occurring prior to the enactment of this subdivision. Revenues from the sale of naming rights for items of a de minimis nature, including, but not limited to, the sale of plaques, individualized bricks or furniture, shall not be subject to allocation under this section.1955, Aug. 9, P.L. 323, No. 130, § 2399.55, added 2000, Oct. 18, P.L. 541, No. 73, § 2, effective in 60 days.