(1) To assist the assisted city in achieving financial stability in any manner consistent with the purposes and powers described by this act.

(2) To assist the assisted city in avoiding defaults, eliminating and financing deficits and debts, maintaining sound budgetary practices and avoiding the interruption of municipal services.

(3) To negotiate intergovernmental cooperation agreements with the assisted city containing terms and conditions as will enable the assisted city to eliminate and avoid deficits, maintain sound budgetary practices and avoid interruption of municipal services.

(4) To prepare an annual report within 120 days after the close of the assisted city's fiscal year to the Governor and the General Assembly describing the assisted city's financial condition and the authority's progress with respect to restoring the financial stability of the assisted city and achieving balanced budgets for the assisted city. An annual report shall be signed by the chairperson of the board and shall:

(5) To establish and maintain a publicly accessible Internet website that contains, but is not limited to, all of the following:

(6) To adopt and publish a records retention policy that is consistent with the records retention policy of the Office of Administration as published in Manual 210.9, The Commonwealth's General Records Retention and Disposition Schedule, adopted September 5, 2018. The policy shall be updated annually to remain consistent with the policy of the Office of Administration.

(1) To obtain copies of all reports and documents regarding the revenues, expenditures, budgets, deficits, debts, costs, plans, operations, estimates and any other financial or budgetary matters of the assisted city.

(2) To obtain additional reports and information on the above matters in forms as are deemed necessary by the authority.

(3) To make factual findings concerning the assisted city's budgetary and fiscal affairs.

(4) To make recommendations to the assisted city and the General Assembly concerning the budgetary and fiscal affairs of the assisted city, including consideration of the following issues and other issues at the discretion of the authority:

(5) To make recommendations to the Governor and the General Assembly regarding legislation or resolutions that relate to the assisted city's fiscal stability. The authority shall submit a preliminary report of the recommendations to the Governor and the General Assembly within 180 days of the initial organizational meeting of the board in section 202(c).³ The report shall include, but not be limited to, recommendations as to whether or not an assisted city needs additional revenues, the best sources of those revenues and ways for the assisted city to reduce expenditures. Any recommendations for new revenue, if warranted, shall state whether the revenues should be earmarked for specific expenditures, including, but not limited to, prepayment of debt and whether the revenues should be subject to expiration provisions.

(6) To exercise powers of review concerning the budgetary and fiscal affairs of an assisted city consistent with this act and the assisted city's governing law.

(7) To receive revenues from any source, directly or by assignment, pledge or otherwise.

(8) To sue and be sued, implead and be impleaded, interplead, complain and defend in all courts.

(9) To adopt, use and alter at will a corporate seal.

(10) To make bylaws for the management and regulation of the authority's affairs and adopt rules, regulations and policies in connection with the performance of the authority's functions and duties that, notwithstanding any other provision of law to the contrary, shall not be subject to review under the act of June 25, 1982 (P.L. 633, No. 181),⁴ known as the Regulatory Review Act.

(11) To make and enter into contracts and other instruments necessary or convenient for the conduct of the authority's business and the exercise of the powers of the authority.

(12) To appoint such officers and hire such agents and employees as the authority deems necessary.

(13) To retain counsel and auditors to render professional services as the authority deems appropriate. The authority shall not be considered either an executive agency or an independent agency for the purpose of the act of October 15, 1980 (P.L. 950, No. 164),⁵ known as the Commonwealth Attorneys Act, but shall possess the same status for that purpose as the Auditor General, State Treasurer and the Pennsylvania Public Utility Commission, except that the provisions of section 204(b) and (f) of the Commonwealth Attorneys Act shall not apply to the authority. Notwithstanding 42 Pa.C.S. Ch. 85 (relating to matters affecting government units), the authority shall defend actions brought against the authority or its members, officers, officials and employees when acting within the scope of their official duties.

(14) To cooperate with any Federal agency or government agency.

(15) To acquire, by gift or otherwise, purchase, hold, receive, lease, sublease and use any franchise, license or property, real, personal or mixed, tangible or intangible, or any interest therein. The authority shall be absolutely limited in its power to acquire real property under this act to real property that will be used only for the office space in which the authority will conduct its daily business if necessary. If possible, the assisted city shall provide office space to the authority at no cost to the authority as part of an intergovernmental cooperation agreement.

(16) To sell, transfer, convey and dispose of any property, real, personal or mixed, tangible or intangible, or any interest therein.

(17) To enter into contracts for group insurance and to contribute to retirement plans for the benefit of the authority's employees and to enroll the authority's employees in an existing retirement system of a government agency.

(18) To accept, purchase or borrow equipment, supplies, services or other things necessary or convenient to the work of the authority from other government agencies. All government agencies are authorized to sell, lend or grant to the authority equipment, supplies, services or other things necessary or convenient to the work of the authority.

(19) To invest any funds held by the authority as provided in section 211.⁶

(20) To receive and hold assets, money and funds from any source, including, but not limited to, appropriations, grants and gifts.

(21) To procure insurance, guarantees and sureties the authority determines necessary or desirable for its purposes.

(22) To pledge the credit of the authority as the authority determines necessary or desirable for authority purposes.

(23) 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 act or any other acts.

(1) The authority may enter into and implement an intergovernmental cooperation agreement, as approved by the board, with the assisted city.

(2) An assisted city may enter into an intergovernmental cooperation agreement in which the city, consistent with this act, covenants to cooperate or agree in the exercise of any function, power or responsibility with, or delegate or transfer any function, power or responsibility to, the authority upon the adoption by the governing body of the city of an ordinance authorizing and approving the intergovernmental cooperation agreement.

(3) An ordinance that authorizes an assisted city to enter into an intergovernmental cooperation agreement with the authority shall specify:

(4) An intergovernmental cooperation agreement may not be entered into earlier than 60 days following the initial organizational meeting of the board under section 202(c).