Section 11701.703 - Recovery plan(a)Issuance.--Within 30 days of the appointment of the receiver, the recovery plan required under section 702(e)(4) shall be furnished to Commonwealth Court, the secretary and the governing body and, if applicable, the chief executive officer of the distressed municipality.(b)Contents.--The receiver shall consider the plan prepared by the coordinator under section 241 and any other existing alternate plans in the development of the recovery plan. The following shall apply: (1) The recovery plan shall provide for all of the following:(i) Continued provision of vital and necessary services.(ii) Payment of the lawful financial obligations of the distressed municipality and authorities. This subparagraph includes debt obligations, municipal securities, lease rental obligations, legal obligations and consensual modifications of existing obligations.(iii) Timely deposit of required payments to the pension fund in which the distressed municipality and each authority participates.(2) The recovery plan may include: (i) the sale, lease, conveyance, assignment or other use or disposition of the assets of the distressed municipality or authority;(ii) the approval, modification, rejection, renegotiation or termination of contracts or agreements of the distressed municipality or authorities, except to the extent prohibited by the Constitutions of the United States and Pennsylvania;(iii) the execution of new contracts or agreements; and(iv) other information the receiver deems appropriate.(c)Restrictions.--The recovery plan may not do any of the following:(1) Unilaterally levy taxes.(2) Unilaterally abrogate, alter or otherwise interfere with a lien, charge, covenant or relative priority that is:(i) held by a holder of a debt obligation of a distressed municipality; and(ii) granted by the contract, law, rule or regulation governing the debt obligation.(3) Unilaterally impair or modify existing bonds, notes, municipal securities or other lawful contractual or legal obligations of the distressed municipality or authority.(4) Authorize the use of the proceeds of the sale, lease, conveyance, assignment or other use or disposition of the assets of the distressed municipality or authority in a manner contrary to section 707.(d)Confirmation.--Commonwealth Court shall conduct a hearing on the recovery plan within 30 days of the receipt of the plan from the receiver. The court shall confirm the plan within 60 days of the receipt of the plan unless it finds clear and convincing evidence that the plan is arbitrary, capricious or wholly inadequate to alleviate the fiscal emergency in the distressed municipality.(e)Modification of plan.--The receiver shall notify the Commonwealth Court of any modification to the plan. The court may conduct a hearing on the modification within 30 days of its receipt. The court shall confirm the modification within 60 days of receipt of notification of the modification unless it finds clear and convincing evidence that the recovery plan as modified is arbitrary, capricious or wholly inadequate to alleviate the fiscal emergency in the distressed municipality. 1987, July 10, P.L. 246, No. 47, § 703, added 2011, Oct. 20, P.L. 318, No. 79, § 2, imd. effective. Amended 2014, Oct. 31, P.L. 2983, No. 199, § 30, effective in 60 days [Dec. 30, 2014].