Pennsylvania Act 1929-477 — FIRST CLASS CITIES, PERMITTED TO LEASE LAND

Act text

FIRST CLASS CITIES, PERMITTED TO LEASE LAND
                  Act of May 7, 1929, P.L. 1573, No. 477              Cl. 11
                                  AN ACT

     Authorizing cities to lease real estate, the property of said
        city, on long term improvement leases, at a nominal rental or
        otherwise, to a corporation of the first class, for the
        purpose of providing an auditorium for dramatic, musical,
        artistic, literary, or scientific events, including provision
        for the accommodation of patriotic societies or groups, or
        such other purposes as may be approved from time to time by
        the city; declaring such uses to be used for public purposes;
        and exempting such real estate and leasehold interests
        therein from taxation.

        Compiler's Note:  Section 4701 of Act 317 of 1931 provided
            that Act 477 is repealed insofar as it relates to third
            class cities.
        Section 1.  Be it enacted, &c., That it shall be lawful for,
     and the right is hereby conferred upon any city, to lease real
     estate, the property of said city, on long term improvement
     leases, at a nominal rental or otherwise, to a corporation of
     the first class, for the purpose of providing an auditorium for
     dramatic, musical, artistic, literary, or scientific events,
     including provision for the accommodation for patriotic
     societies or groups, or such other purposes as may be approved
     from time to time by the city, said auditorium to be a memorial
     to the heroes of the Great War.
        Section 2.  Every such lease shall be for a term of not more
     than ninety-nine years, may provide for a right of renewal for a
     like term, and shall contain provision for the improvement of
     the real estate by the erection of a suitable building or
     buildings of dignified and appropriate architecture, absolute
     ownership of which building or buildings shall revert to the
     city, free of any claim or charge, at the end of the term of the
     said lease or any renewal thereof.
        Section 3.  The building, so erected, may be used for any one
     or more of the following purposes, which are hereby declared, in
     respect of this subject matter, to be uses for public purposes:
     As an auditorium for dramatic, musical, artistic, literary, or
     scientific events, including provision for the accommodation of
     patriotic societies or groups, or such other accommodation and
     features as may be approved from time to time by the city.
        Section 4.  The title to the said property, as so improved,
     shall remain in the city, and neither the said real estate, nor
     the leasehold estate created by such lease, shall be subject to
     local or other taxation.
        The lessees shall be exclusively liable for the maintenance
     and upkeep of the demised premises, and shall be solely
     responsible for the maintenance and operation thereof.
        Section 5.  Any such lease may provide that the lessor shall
     be entitled to receive a sum equal to the net income of said
     demised premises after reasonable reserves and proper
     amortization charges.