Pennsylvania Act 1986-7 — CAPITAL BUDGET - PUBLIC IMPROVEMENT PROJECTS

Act text

AN ACT

Itemizing public improvement projects to be constructed or acquired by the Department of General Services, the Pennsylvania Fish Commission or the Pennsylvania Game Commission together with their estimated financial costs; authorizing the incurring of debt without the approval of the electors for the purpose of financing the projects to be constructed or acquired by the Department of General Services; stating the estimated useful life of the projects; and making appropriations.

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

CHAPTER 1

ITEMIZATION OF DEBT FUNDED CAPITAL PROJECT

SUBCHAPTER A

GENERAL PROVISIONS

Section 101. Total authorizations.

The total authorization for the additional capital project in the category of public improvement projects itemized in section 111 and to be acquired or constructed by the Department of General Services, its successors or assigns, and to be financed by the incurring of debt, shall be $6,170,000.

SUBCHAPTER B

ITEMIZATION OF PUBLIC IMPROVEMENT PROJECT

Section 111. Itemization of public improvement project.

Additional capital projects in the category of public improvement projects to be constructed or acquired by the Department of General Services, its successors or assigns, and to be financed by the incurring of debt, are hereby itemized, together with their respective estimated financial costs, as follows:

(Design and Contingencies - $1,028,000)

CHAPTER 3

BOAT AND FISH FUND PROJECTS

Section 301. Total authorizations.

The total authorization for the capital projects in the category of public improvement projects itemized in section 302 to be constructed by the Pennsylvania Fish Commission, and to be financed from current revenues of the Boat Fund and the Fish Fund pursuant to executive authorizations, shall be $550,000.

Compiler's Note: The name of the Pennsylvania Fish Commission, referred to in this section, was changed to the Pennsylvania Fish and Boat Commission by Act 39 of 1991. See 30 Pa.C.S. § 308 (relating to designation of commission).

Section 302. Itemization of Fish Commission capital projects.

The individual capital projects in the category of public improvement projects to be constructed by the Pennsylvania Fish Commission, and to be financed from current revenues of the Boat Fund and the Fish Fund pursuant to executive authorizations, are hereby itemized, together with their respective estimated costs, as follows:

Compiler's Note: The name of the Pennsylvania Fish Commission, referred to in this section, was changed to the Pennsylvania Fish and Boat Commission by Act 39 of 1991. See 30 Pa.C.S. § 308 (relating to designation of commission).

CHAPTER 5

GAME FUND PROJECTS

Section 501. Total authorizations.

The total authorization for the capital projects in the category of public improvement projects to be acquired by the Pennsylvania Game Commission, and to be financed from current revenues of the Game Fund pursuant to executive authorizations, shall be $1,398,000.

Section 502. Itemization of Game Commission capital projects.

The individual capital projects in the category of public improvement projects to be acquired by the Pennsylvania Game Commission, and to be financed from current revenues of the Game Fund pursuant to executive authorizations, are hereby itemized, together with their respective estimated costs, as follows:

CHAPTER 7

DEBT AUTHORIZATION AND APPROPRIATION

Section 701. Debt authorization.

The Governor, Auditor General and State Treasurer are hereby authorized and directed to borrow, from time to time, in addition to any authorization heretofore or hereafter enacted, on the credit of the Commonwealth, subject to the limitations provided in the current capital budget, money not exceeding in the aggregate the sum of $6,170,000 as may be found necessary to carry out the acquisition and construction of the public improvement projects specifically itemized in a capital budget.

Section 702. Issue of bonds.

The indebtedness authorized in this act shall be incurred, from time to time, and shall be evidenced by one or more series of general obligation bonds of the Commonwealth in such aggregate principal amount for each series as the Governor, Auditor General and State Treasurer shall determine, but the latest stated maturity date shall not exceed the estimated useful life of the projects being financed as stated in section 703.

Section 703. Estimated useful life and term of debt.

(a) Estimated useful life.--The General Assembly states that the estimated useful life of the public improvement projects itemized in this act is 30 years.

(b) Term of debt.--The maximum term of the debt authorized to be incurred under this act is 30 years.

Section 704. Appropriations.

The net proceeds of the sale of the obligations authorized in this act are hereby appropriated from the Capital Facilities Fund to the Department of General Services in the maximum amount of $6,170,000 to be used by it exclusively to defray the financial cost of the public improvement projects specifically itemized in a capital budget. After reserving or paying the expenses of the sale of the obligation, the State Treasurer shall pay to the Department of General Services the moneys as required and certified by it to be legally due and payable.

Section 705. Federal funds.

In addition to those funds appropriated in section 704, all moneys received from the Federal Government for the projects specifically itemized in this act are also hereby appropriated for those projects.

CHAPTER 9

EFFECTIVE DATE

Section 901. Effective date.

This act shall take effect immediately.