PRINTER'S NO. 2239
No. 1727 Session of 1975
INTRODUCED BY WOJDAK, SEPTEMBER 23, 1975
REFERRED TO COMMITTEE ON APPROPRIATIONS, SEPTEMBER 23, 1975
A SUPPLEMENT
1 To the act of October 10, 1974 (No.245), entitled "An act
2 providing for the capital budget for the fiscal year 1974-
3 1975," itemizing a public improvement project to be
4 constructed by the Department of General Services, 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 public improvement project, stating the
8 estimated useful life of the project, and making an
9 appropriation.
10 The General Assembly of the Commonwealth of Pennsylvania
11 hereby enacts as follows:
12 Section 1. Itemization and Authorization of Project.--An
13 additional capital project in the category of a public
14 improvement project to be constructed by the Department of
15 General Services, its successors or assigns, and to be financed
16 by the incurring of debt, is hereby itemized, together with its
17 respective estimated financial cost and the total additional
18 amount authorized for the public improvement project, as
19 follows:
20 I. Department of Agriculture
21 (1) Parking Lot Improvements and Fencing;
22 Farm Show Complex ......................... $621,000
1 (Base Construction Authorization $505,000)
2 Section 2. Debt Authorization.--The Governor, Auditor
3 General and State Treasurer are hereby authorized and directed
4 to borrow, from time to time, in addition to any authorization
5 heretofore or hereafter enacted, on the credit of the
6 Commonwealth, subject to the limitations provided in the current
7 capital budget, money not exceeding in the aggregate the sum of
8 $621,000, or as much thereof as may be found necessary to carry
9 out the construction of the public improvement project
10 specifically itemized herein.
11 Section 3. Issue of Bonds.--The indebtedness herein
12 authorized shall be incurred from time to time and shall be
13 evidenced by one or more series of general obligation bonds of
14 the Commonwealth in such aggregate principal amount for each
15 series as the Governor, Auditor General and State Treasurer
16 shall determine, but the latest stated maturity date shall not
17 exceed 30 years from the date of the bond first issued for each
18 such series.
19 Section 4. Estimated Useful Life of Project.--The General
20 Assembly states the estimated useful life of the public
21 improvement project heretofore itemized is not less than 30
22 years from the date of completion thereof, which period is
23 hereby stated to be the term of the debt to be incurred.
24 Section 5. Appropriation.--The net proceeds of the sale of
25 the obligations herein authorized are hereby appropriated from
26 the Capital Facilities Fund to the Department of General
27 Services in the maximum amount of $621,000 to be used by it
28 exclusively to defray the financial cost of the public
29 improvement project specifically itemized herein. After
30 reserving or paying the expenses of the sale of the obligation,
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1 the State Treasurer shall pay out to the Department of General
2 Services the moneys as required and certified by it to be
3 legally due and payable.
4 Section 6. Allocation of Funds.--Whenever as determined by
5 the Department of General Services the full estimated financial
6 cost of the public improvement project itemized in section 1
7 hereof is not necessary for the proper design or construction of
8 the project, the excess funds no longer required may be
9 allocated to increase the estimated cost of any one or more of
10 the public improvement projects specifically itemized in a
11 capital budget.
12 Section 7. Effective Date.--This act shall take effect
13 immediately.
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