PRINTER'S NO. 1127
No. 989 Session of 1975
INTRODUCED BY CUMBERLAND, McCUE AND L. E. SMITH, APRIL 9, 1975
REFERRED TO COMMITTEE ON TRANSPORTATION, APRIL 14, 1975
A SUPPLEMENT
1 To the act of (No. ), entitled "An act
2 providing for the capital budget for the fiscal year 1975-
3 1976," itemizing a public improvement project to be acquired
4 or constructed by the Department of Transportation, together
5 with its estimated financial cost; authorizing the incurring
6 of debt without the approval of the electors for the purpose
7 of financing the project; stating the estimated useful life
8 of the project; and making an appropriation.
9 The General Assembly of the Commonwealth of Pennsylvania
10 hereby enacts as follows:
11 Section 1. Itemization and Authorization of Project.--An
12 additional capital project in the category of a highway project
13 to be acquired or constructed by the Department of
14 Transportation, its successors or assigns, and to be financed by
15 the incurring of debt, is hereby itemized, together with the
16 respective estimated financial cost to be financed by debt as
17 follows:
18 I. Armstrong County
19 (1) L.R.03087, Relocation of
20 Bridge and Service Roads,
21 Wayne Township
1 Sec. A03; Length 0.88 Miles.....................$918,800
2 (Construction Cost $768,400
3 Right-of-Way, Utilities,
4 Engineering $141,400)
5 Section 2. Allocation of Funds.--Whenever as determined by
6 the State Transportation Commission the full estimated financial
7 cost of the highway project itemized in section 1 is not
8 necessary for the proper design, acquisition or construction of
9 the project, the excess funds no longer required may be
10 allocated by the Department of Transportation, after prior
11 approval by the State Transportation Commission to increase the
12 estimated cost of any one or more highway projects specifically
13 itemized in a capital budget.
14 Section 3. Debt Authorization; Appropriation.--(a) The
15 Governor, Auditor General and State Treasurer are hereby
16 authorized and directed to borrow, from time to time, in
17 addition to any authorization heretofore or hereafter enacted,
18 on the credit of the Commonwealth, subject to the limitations
19 provided in the current capital budget, money not exceeding in
20 the aggregate the sum of $918,800 as may be found necessary to
21 carry out the acquisition and construction of the highway
22 project specifically itemized herein.
23 (b) The net proceeds of the sale of the obligations herein
24 authorized are hereby appropriated from the Capital Facilities
25 Fund to the Department of Transportation in the maximum amount
26 of $918,800 to be used by it exclusively to defray the financial
27 cost of the public improvement project specifically itemized
28 herein. After reserving or paying the expenses of the sale of
29 the obligation, the State Treasurer shall pay out to the
30 Department of Transportation the moneys as required and
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1 certified by it to be legally due and payable.
2 Section 4. Issue of Bonds.--The indebtedness herein
3 authorized shall be incurred from time to time and shall be
4 evidenced by one or more series of general obligation bonds of
5 the Commonwealth in such aggregate principal amount for each
6 series as the Governor, Auditor General and State Treasurer
7 shall determine, but the latest stated maturity date shall not
8 exceed 30 years from the date of the bond first issued for each
9 such series.
10 Section 5. Estimated Useful Life of Projects.--The General
11 Assembly states the estimated useful life of the public
12 improvement project heretofore itemized is not less than 30
13 years from the date of completion thereof, which period is
14 hereby stated to be the term of the debt to be incurred.
15 Section 6. Effective Date.--This act shall take effect
16 immediately.
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