Pennsylvania Act 1943-73 — RELATING TO POST-WAR PROJECTS

Act text

RELATING TO POST-WAR PROJECTS
                  Act of Apr. 30, 1943, P.L. 145, No. 73              Cl. 53
                                  AN ACT

     Providing for and regulating the accumulation, investment and
        expenditure by counties, cities, boroughs, incorporated
        towns, townships and school districts of funds for post war
        projects. (Title amended May 1, 1945, P.L.362, No.152)

        The General Assembly of the Commonwealth of Pennsylvania
     hereby enacts as follows:

        Section 1.  Definitions.--As used in this act the word or
     phrase:
        "Municipality" means any county, city, borough, incorporated
     town, township or school district.
        "Post war period" means any period after proclamation by the
     Governor of the Commonwealth that hostilities in all wars in
     which the United States is now engaged have ceased.
        "Special Fund" means a Capital Reserve Fund created, invested
     and expended in accordance with this act.
        (1 amended May 1, 1945, P.L.362, No.152)
        Section 2.  Creation of Capital Reserve Fund.--Any
     municipality shall have power to create a special fund and to
     accumulate therein moneys for expenditure in accordance with the
     provisions of this act during the post war period. Such special
     fund may consist (a) of moneys transferred during any fiscal
     year from appropriations made for any particular purpose which
     may not be needed; (b) of surplus moneys in the general fund of
     the treasury of the municipality at the end of any fiscal year.
        The municipality shall annually show in its budget the amount
     of moneys in the special fund.
        (2 amended May 8, 1947, P.L.176, No.77)
        Section 3.  Investment of Fund; Budget; Record.--The moneys
     in the fund shall be kept separate and apart from any other fund
     by the treasurer of the municipality, and the moneys in the
     special fund may be invested by the corporate authorities of the
     municipality in securities legal for the investment of the
     sinking fund moneys of the municipality. The interest earnings
     on investments shall be paid into the special fund. The
     corporate authorities may sell any such securities and reinvest
     the moneys in other securities or convert such securities into
     cash when the same may be needed for expenditure under the
     provisions of this act.
        (3 amended May 1, 1945, P.L.362, No.152)
        Section 4.  Expenditure of Fund.--The moneys in any such
     special fund may be expended by the municipality singly or
     jointly with the Commonwealth, or any department, or agency
     thereof, or with one or more other municipalities, only during
     the post war period, and only for capital improvements and for
     replacement of and additions to public works and improvements,
     and for deferred maintenance thereof, and for the purchase or
     the replacement of school buses, and for no other purpose.
        (4 amended May 8, 1947, P.L.176, No.77)
        Section 5.  Plans and Surveys.--Any municipality singly or
     jointly with the Commonwealth, or any department, or agency
     thereof, or with one or more municipalities shall have power to
     formulate and develop preliminary and final plans and surveys
     for a long-range program of public works and improvements for
     the post war period, and to revise the same from time to time,
     so that the scope, cost, employment possibilities, materials and
     equipment needed for the completion of the projects will be
     readily available, and to maintain, contact, exchange
     information and cooperate with State and Federal agencies having
     duties and responsibilities related to post war planning.
        (5 amended May 1, 1945, P.L.362, No.152)
        Section 6.  Where any municipality has prior to the effective
     date of this act created any special fund or set moneys aside
     for expenditure during the post war period, the said action of
     the municipality is hereby ratified, confirmed and validated,
     and the moneys in such fund or so set aside shall be placed in a
     special fund, shall be invested, and shall be expended only in
     accordance with the provisions of this act.
        (6 amended May 1, 1945, P.L.362, No.152)
        Section 7.  This act shall become effective immediately upon
     final enactment.
        (7 amended May 1, 1945, P.L.362, No.152)