PRINTER'S NO. 655
No. 582 Session of 2003
INTRODUCED BY MADIGAN AND THOMPSON, APRIL 15, 2003
REFERRED TO APPROPRIATIONS, APRIL 15, 2003
AN ACT
1 Providing for the capital budget for the fiscal year 2002-2003,
2 itemizing public improvement projects to be constructed or
3 acquired or assisted by the Department of Community and
4 Economic Development, together with their estimated financial
5 costs; authorizing the incurring of debt without the approval
6 of the electors for the purpose of financing the projects to
7 be constructed or acquired or assisted by the Department of
8 Community and Economic Development; stating the estimated
9 useful life of the projects; and making an appropriation.
10 The General Assembly of the Commonwealth of Pennsylvania
11 hereby enacts as follows:
12 Section 1. Short title.
13 This act shall be known and may be cited as the Capital
14 Budget Project Itemization Act for 2002-2003.
15 Section 2. Total authorizations.
16 The total authorization for the additional capital projects
17 in the category of public improvement projects itemized in
18 section 3 and to be acquired or constructed by the Department of
19 Community and Economic Development, its successors or assigns,
20 and to be financed by the incurring of debt, shall be
21 $15,000,000.
1 Section 3. Itemization of redevelopment assistance projects.
2 Additional capital projects in the category of redevelopment
3 assistance projects for capital grants by the Department of
4 Community and Economic Development, its successors or assigns,
5 authorized under the provisions of the act of May 20, 1949
6 (P.L.1633, No.493), known as the Housing and Redevelopment
7 Assistance Law, and redevelopment assistance capital projects
8 and to be financed by the incurring of debt, are hereby
9 itemized, together with their respective estimated financial
10 costs, as follows:
11 Total
12 Project
13 Project Allocation
14 (1) Department of Community and Economic
15 Development
16 (i) Bradford County-North Towanda Township
17 (A) DuPont Company's Imaging Technologies,
18 for construction and improvements of
19 existing facility. $15,000,000
20 Section 4. Debt authorization.
21 Subject to the limitation in section 317(b) of the act of
22 February 9, 1999 (P.L.1, No.1), known as the Capital Facilities
23 Debt Enabling Act, the Governor, Auditor General and State
24 Treasurer are hereby authorized and directed to borrow from time
25 to time in addition to any authorization heretofore or hereafter
26 enacted, on the credit of the Commonwealth, subject to the
27 limitations provided in the current capital budget, money not
28 exceeding in the aggregate the sum of $15,000,000 as may be
29 found necessary to carry out the redevelopment assistance and
30 the redevelopment assistance capital projects specifically
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1 itemized in a capital budget.
2 Section 5. Issue of bonds.
3 The indebtedness authorized in this act shall be incurred,
4 from time to time, and shall be evidenced by one or more series
5 of general obligation bonds of the Commonwealth in such
6 aggregate principal amount for each series as the Governor, the
7 Auditor General and the State Treasurer shall determine, but the
8 latest stated maturity date shall not exceed the estimated
9 useful life of the projects being financed as stated in section
10 6.
11 Section 6. Estimated useful life and term of debt.
12 (a) Estimated useful life.--The General Assembly states that
13 the estimated useful life of the public improvement projects
14 itemized in this act is as follows:
15 (1) Public improvement projects, 30 years.
16 (2) Furniture and equipment projects, 10 years.
17 (3) Transportation assistance projects:
18 (i) Rolling stock, 15 years.
19 (ii) Passenger buses, 12 years.
20 (iii) Furniture and equipment, 10 years.
21 (iv) All others, 30 years.
22 (b) Term of debt.--The maximum term of the debt authorized
23 to be incurred under this act is 30 years.
24 Section 7. Appropriations.
25 The net proceeds of the sale of the obligations authorized in
26 this act are hereby appropriated from the Capital Facilities
27 Fund to the Department of Community and Economic Development in
28 the maximum amount of $15,000,000 to be used by it exclusively
29 to defray the financial cost of the redevelopment assistance and
30 redevelopment assistance capital projects specifically itemized
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1 in a capital budget. After reserving or paying the expenses of
2 the sale of the obligation, the State Treasurer shall pay to the
3 Department of Community and Economic Development the moneys as
4 required and certified by it to be legally due and payable.
5 Section 8. Federal funds.
6 In addition to those funds appropriated in section 7, all
7 moneys received from the Federal Government for the projects
8 specifically itemized in this act are also hereby appropriated
9 for those projects.
10 Section 9. Expiration of authorization and appropriation.
11 The authorization and appropriation for the additional
12 capital projects itemized in section 3 for which grant
13 agreements have not been executed within four years of the
14 effective date of this act shall expire upon such date and shall
15 be considered repealed. The Secretary of the Budget may extend
16 an expired project for up to one year upon written notification
17 of the majority chairman and minority chairman of the
18 Appropriations Committee of the Senate and the majority chairman
19 and minority chairman of the Appropriations Committee of the
20 House of Representatives. Upon expiration of the extension
21 period, an extended project may not be subsequently extended.
22 Section 10. Editorial changes.
23 In editing and preparing this act for printing following the
24 final enactment, the Legislative Reference Bureau shall insert
25 or revise letters or numbers for projects where the letters or
26 numbers are missing or require revision. The bureau shall also
27 revise the total monetary amounts for the total authorization,
28 debt authorization, appropriations and departmental totals as
29 necessary to agree with the total monetary amounts of the
30 projects.
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1 Section 11. Effective date.
2 This act shall take effect immediately.
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