PRINTER'S NO. 2998
No. 2256 Session of 1988
INTRODUCED BY LLOYD, MARCH 21, 1988
REFERRED TO COMMITTEE ON APPROPRIATIONS, MARCH 21, 1988
A SUPPLEMENT
1 To the act of July 3, 1987 (P.L.190, No.26), entitled "An act
2 providing for the capital budget for the fiscal year 1987-
3 1988," providing for a public highway project to be
4 constructed by the Department of Transportation, together
5 with the estimated financial cost; authorizing the incurring
6 of debt without the approval of the electors for the purpose
7 of financing the project to be constructed by the Department
8 of Transportation; stating the estimated useful life of the
9 project; and making an appropriation.
10 The General Assembly of the Commonwealth of Pennsylvania
11 hereby enacts as follows:
12 Section 1. Authorization.
13 The total authorization for the capital project itemized in
14 section 2 and to be constructed by the Department of
15 Transportation, its successors, or assigns, and to be financed
16 by the incurring of debt, or from current revenues of the Motor
17 License Fund, shall be $750,000.
18 Section 2. Itemization.
19 An additional capital project to be constructed by the
20 Department of Transportation, its successors, or assigns, and to
21 be financed by the incurring of debt, or from current revenues
1 of the Motor License Fund, is hereby itemized, together with its
2 estimated financial costs, as follows:
3 Total
4 Project Project
5 Allocation
6 (1) Somerset County
7 (i) U.S.40
8 (A) Highway improvements, including resurfacing
9 and the construction of paved shoulders
10 on U.S.40 from the Fayette County line
11 to the Maryland State line, Length 6.5
12 miles 750,000
13 (Base Project Allocation - $660,000)
14 (Design and Contingencies - $90,000)
15 Section 3. Debt authorization.
16 The Governor, Auditor General and State Treasurer are hereby
17 authorized and directed to borrow, from time to time, in
18 addition to any authorization heretofore or hereafter enacted,
19 on the credit of the Commonwealth, subject to the limitations
20 provided in the current capital budget, money not exceeding in
21 the aggregate the sum of $750,000 as may be found necessary to
22 carry out the acquisition and construction of the highway
23 project specifically itemized in section 2 of this capital
24 budget.
25 Section 4. Issue of bonds.
26 The indebtedness herein authorized shall be incurred from
27 time to time and shall be evidenced by one or more series of
28 general obligation bonds of the Commonwealth in such aggregate
29 principal amount for each series as the Governor, Auditor
30 General and State Treasurer shall determine, but the latest
19880H2256B2998 - 2 -
1 stated maturity date shall not exceed 30 years from the date of
2 the bond first issued for each such series.
3 Section 5. Estimated useful life of projects.
4 The General Assembly states the estimated useful life of the
5 project heretofore itemized is 30 years.
6 Section 6. Appropriation.
7 The net proceeds of the sale of the obligations herein
8 authorized are hereby appropriated from the Capital Facilities
9 Fund to the Department of Transportation in the maximum amount
10 of $750,000 to be used by it exclusively to defray the financial
11 costs of the project specifically itemized in section 2 of this
12 capital budget. After reserving or paying the expenses of the
13 sale of the obligation, the State Treasurer shall pay out to the
14 Department of Transportation the moneys as required and
15 certified by it to be legally due and payable.
16 Section 7. Federal funds.
17 In addition to those funds appropriated in section 6, all
18 moneys received from the Federal Government for the construction
19 of the public improvement project specifically itemized herein
20 are also hereby appropriated for that project.
21 Section 8. Allocation of funds.
22 Whenever, as determined by the Department of Transportation
23 that the full estimated financial costs of the project itemized
24 in section 2 are not necessary for the proper design,
25 acquisition or construction of such project, the excess funds no
26 longer required may be allocated by the Department of
27 Transportation to increase the estimated costs of any one or
28 more of the projects specifically itemized in a capital budget.
29 Section 9. Effective date.
30 This act shall take effect immediately.
C7L86WMB/19880H2256B2998 - 3 -