PRINTER'S NO. 3567
No. 2625 Session of 1996
INTRODUCED BY GEIST, ZUG, PETTIT, BARD, McCALL, HERMAN, LYNCH,
ITKIN, SCHULER, JOSEPHS, YOUNGBLOOD, GIGLIOTTI, RUBLEY,
OLASZ, CLARK, MARKOSEK, BATTISTO, DALEY, PISTELLA, BELFANTI,
E. Z. TAYLOR, STEELMAN, TRELLO, DERMODY, STETLER AND
VAN HORNE, MAY 15, 1996
REFERRED TO COMMITTEE ON TRANSPORTATION, MAY 15, 1996
A SUPPLEMENT
1 To the act of (P.L. , No. ), entitled
2 "An act providing for the capital budget for the fiscal year
3 1996-1997," itemizing transportation assistance projects to
4 be constructed or acquired or assisted by the Department of
5 Transportation, together with their estimated financial
6 costs; authorizing the incurring of debt without the approval
7 of the electors for the purpose of financing the projects to
8 be constructed or acquired or assisted by the Department of
9 Transportation; stating the estimated useful life of the
10 projects; and making an appropriation.
11 The General Assembly of the Commonwealth of Pennsylvania
12 hereby enacts as follows:
13 Section 1. Short title.
14 This act shall be known and may be cited as the Capital
15 Budget Transportation Assistance Project Itemization Act for
16 1996-1997.
17 Section 2. Total authorization.
18 The total authorization for the capital projects in the
19 category of transportation assistance projects itemized in
20 section 3 with respect to which an interest is to be acquired in
1 or constructed by the Department of Transportation, its
2 successors or assigns, and to be financed by the incurring of
3 debt, shall be $150,000,000.
4 Section 3. Itemization of transportation assistance projects.
5 Additional capital projects in the category of transportation
6 assistance projects for rural and intercity rail service
7 projects to be constructed or with respect to which an interest
8 is to be acquired by the Department of Transportation, its
9 successors or assigns, and to be financed by the incurring of
10 debt, are hereby itemized, together with their respective
11 estimated financial costs, as follows:
12 Total
13 Project
14 Project Allocation
15 (1) Department of Transportation
16 (i) Four complete high-speed, high horse-power
17 train sets built to National Railroad
18 Passenger Corporation (AMTRAK)
19 specifications and to be purchased or
20 leased as an amendment to AMTRAK's bid
21 award for Northeast Corridor High Speed
22 Transportation. These train sets may be
23 either electric or fossil-fuel to be used
24 on Pennsylvania's Keystone Corridor and
25 elsewhere in this Commonwealth 140,000,000
26 (ii) Purchase of site and construction of
27 transit maintenance facility 10,000,000
28 Section 4. Debt authorization.
29 The Governor, Auditor General and State Treasurer are hereby
30 authorized and directed to borrow from time to time in addition
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1 to any authorization heretofore or hereafter enacted, on the
2 credit of the Commonwealth, subject to the limitations provided
3 in the current capital budget, money not exceeding in the
4 aggregate the sum of $150,000,000 as may be found necessary to
5 carry out the acquisition and construction of the transportation
6 assistance projects specifically itemized in a capital budget.
7 Section 5. Issue of bonds.
8 The indebtedness authorized in this act shall be incurred,
9 from time to time, and shall be evidenced by one or more series
10 of general obligation bonds of the Commonwealth in such
11 aggregate principal amount for each series as the Governor, the
12 Auditor General and the State Treasurer shall determine, but the
13 latest stated maturity date shall not exceed the estimated
14 useful life of the projects being financed as stated in section
15 6.
16 Section 6. Estimated useful life and term of debt.
17 (a) Estimated useful life.--The General Assembly states that
18 the estimated useful life of the public improvement projects
19 itemized in this act is as follows:
20 (1) Public improvement projects, 30 years.
21 (2) Transportation assistance projects:
22 (i) Rolling stock, 15 years.
23 (ii) All others, 30 years.
24 (b) Term of debt.--The maximum term of the debt authorized
25 to be incurred under this act is 30 years.
26 Section 7. Appropriations.
27 The net proceeds of the sale of the obligations authorized in
28 this act are hereby appropriated from the Capital Facilities
29 Fund to the Department of Transportation in the maximum amount
30 of $150,000,000 to be used by it exclusively to defray the
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1 financial cost of the transportation assistance projects
2 specifically itemized in a capital budget. After reserving or
3 paying the expense of the sale of the obligation, the State
4 Treasurer shall pay to the Department of Transportation the
5 moneys as required and certified by it to be legally due and
6 payable.
7 Section 8. Federal funds.
8 In addition to those funds appropriated in section 7, all
9 moneys received from the Federal Government for the projects
10 specifically itemized in this act are also hereby appropriated
11 for those projects.
12 Section 9. Editorial changes.
13 In editing and preparing this act for printing following the
14 final enactment, the Legislative Reference Bureau shall insert
15 or revise letters or numbers for projects where the letters or
16 numbers are missing or require revision. The bureau shall also
17 revise the total monetary amounts for the total authorization,
18 debt authorization, appropriations and departmental totals as
19 necessary to agree with the total monetary amounts of the
20 projects.
21 Section 10. Effective date.
22 This act shall take effect immediately.
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