PRINTER'S NO. 1361
No. 1178 Session of 1975
INTRODUCED BY MORRIS, WOJDAK, VROON AND CRAWFORD, APRIL 30, 1975
REFERRED TO COMMITTEE ON APPROPRIATIONS, MAY 5, 1975
AN ACT
1 Amending the act of June 12, 1973 (P.L.54, No.23), entitled "An
2 act authorizing the incurring of debt without the approval of
3 the electors for the purpose of financing public improvement
4 projects to be acquired or constructed by The General State
5 Authority stating the estimated useful life of such projects
6 specifically itemized in a capital budget, and making an
7 appropriation," increasing the debt authorization and
8 appropriation and harmonizing the language of previous
9 amendments.
10 The General Assembly of the Commonwealth of Pennsylvania
11 hereby enacts as follows:
12 Section 1. Sections 1 and 4, act of June 12, 1973 (P.L.54,
13 No.23), entitled "An act authorizing the incurring of debt
14 without the approval of the electors for the purpose of
15 financing public improvement projects to be acquired or
16 constructed by The General State Authority stating the estimated
17 useful life of such projects specifically itemized in a capital
18 budget, and making an appropriation," amended October 10, 1974
19 (No.243) and December 26, 1974 (No.321), are amended to read:
20 Section 1. Debt Authorization.--The Governor, Auditor
21 General and State Treasurer are hereby authorized and directed
22 to borrow, from time to time, in addition to any authorization
1 heretofore or hereafter enacted, on the credit of the
2 Commonwealth, subject to the limitations provided in the current
3 capital budget, money not exceeding in the aggregate the sum of
4 [seventy-six million, two hundred and seventy-four thousand
5 dollars ($76,274,000)] eighty-two million six hundred ninety-
6 four thousand dollars ($82,694,000) as may be found necessary to
7 carry out the acquisition and construction of public improvement
8 projects specifically itemized in a capital budget.
9 Section 4. Appropriation.--The net proceeds of the sale of
10 the obligations herein authorized are hereby appropriated from
11 the Capital Facilities Fund to The General State Authority in
12 the maximum amount of [seventy-six million two hundred seventy-
13 four thousand dollars ($76,274,000)] eighty-two million six
14 hundred ninety-four thousand dollars ($82,694,000) to be used by
15 it exclusively to defray the financial costs of public
16 improvement projects specifically itemized in a capital budget.
17 After reserving or paying the expenses of the sale of the
18 obligation, the State Treasurer shall pay out to The General
19 State Authority the moneys as required and certified by it to be
20 legally due and payable.
21 Section 2. This act shall take effect immediately.
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