PRINTER'S NO. 2207
No. 1552 Session of 1998
INTRODUCED BY CORMAN, OCTOBER 5, 1998
REFERRED TO APPROPRIATIONS, OCTOBER 5, 1998
A SUPPLEMENT
1 To the act of May 7, 1998 (P.L.343, No.52), entitled "An act
2 providing for the capital budget for the fiscal year 1998-
3 1999," itemizing public improvement projects to be
4 constructed or acquired or assisted by the Department of
5 General Services 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 General Services; stating the estimated useful life of the
10 projects; authorizing certain waivers; making appropriations;
11 and making repeals.
12 The General Assembly of the Commonwealth of Pennsylvania
13 hereby enacts as follows:
14 Section 1. Short title.
15 This act shall be known and may be cited as the Capital
16 Budget Project Itemization Act for 1998-1999.
17 Section 2. Total authorizations.
18 The total authorization for the additional capital projects
19 in the category of public improvement projects itemized in
20 section 3 and to be acquired or constructed by the Department of
21 General Services, its successors or assigns, and to be financed
22 by the incurring of debt, shall be $6,760,000.
1 Section 3. Itemization of public improvement projects.
2 Additional capital projects in the category of public
3 improvement projects to be constructed or acquired by the
4 Department of General Services, its successors or assigns, and
5 to be financed by the incurring of debt, are hereby itemized,
6 together with their respective estimated financial costs, as
7 follows:
8 Total
9 Project
10 Project Allocation
11 (1) Lock Haven University of $6,760,000
12 Pennsylvania
13 (i) Lock Haven University
14 (A) Acquisition, construction and
15 renovation of adjoining Keystone
16 Central School District properties and
17 structures 6,760,000
18 (Base Project Allocation - $6,465,000)
19 (Design and Contingencies - $295,000)
20 Section 4. Debt authorization.
21 The Governor, Auditor General and State Treasurer are hereby
22 authorized and directed to borrow from time to time in addition
23 to any authorization heretofore or hereafter enacted, on the
24 credit of the Commonwealth, subject to the limitations provided
25 in the current capital budget, money not exceeding in the
26 aggregate the sum of $6,760,000 as may be found necessary to
27 carry out the acquisition and construction of the public
28 improvement projects specifically itemized in a capital budget.
29 Section 5. Issue of bonds.
30 The indebtedness authorized in this act shall be incurred,
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1 from time to time, and shall be evidenced by one or more series
2 of general obligation bonds of the Commonwealth in such
3 aggregate principal amount for each series as the Governor, the
4 Auditor General and the State Treasurer shall determine, but the
5 latest stated maturity date shall not exceed the estimated
6 useful life of the projects being financed as stated in section
7 6.
8 Section 6. Estimated useful life and term of debt.
9 (a) Estimated useful life.--The General Assembly states that
10 the estimated useful life of the public improvement projects
11 itemized in this act is 30 years for public projects.
12 (b) Term of debt.--The maximum term of the debt authorized
13 to be incurred under this act is 30 years.
14 Section 7. Appropriations.
15 The net proceeds of the sale of the obligations authorized in
16 this act are hereby appropriated from the Capital Facilities
17 Fund to the Department of General Services in the maximum amount
18 of $6,760,000 to be used by it exclusively to defray the
19 financial cost of the public improvement projects specifically
20 itemized in a capital budget. After reserving or paying the
21 expenses of the sale of the obligation, the State Treasurer
22 shall pay to the Department of General Services the moneys as
23 required and certified by it to be legally due and payable.
24 Section 8. Effective date.
25 This act shall take effect immediately.
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