Section 1600.303 - Powers of authorityThe authority shall exercise public powers of the Commonwealth as an agency thereof, including the following powers in addition to those herein otherwise granted:
(1) To cooperate with any government or municipality as herein defined;(2) To act as agent of any government agency for the public purposes set out in this act;(3) To borrow funds from private lenders or from the Commonwealth or the Federal government, as may be necessary for the operation and work of the authority, and to carry out the purposes and provisions of this act;(4) To invest any funds held in reserves or sinking funds or any funds not required for immediate disbursement, in such investments as may be lawful for executors, administrators, guardians, trustees and other fiduciaries under the laws of this Commonwealth;(6) To adopt a seal and to alter the same at pleasure;(7) To make and execute contracts and other instruments necessary or convenient to the exercise of the powers of the authority, and any contract or instrument when signed by the chairman or vice-chairman of the authority, or by an authorized use of their facsimile signatures, and by the secretary or assistant secretary or treasurer or assistant treasurer of the authority, or by an authorized use of their facsimile signatures, shall be held to have been properly executed for and on its behalf;(8) To make, to amend, and to repeal bylaws, rules, regulations and resolutions;(9) To do all acts and things necessary or convenient to carry out the powers granted to it by this article 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, nor shall any of its obligations be deemed to be obligations of the Commonwealth.1968, July 31, P.L. 738, No. 233, art. III, § 303.