PRINTER'S NO. 125
No. 128 Session of 1997
INTRODUCED BY O'PAKE, JANUARY 21, 1997
REFERRED TO TRANSPORTATION, JANUARY 21, 1997
AN ACT
1 Providing for adoption of highway capital projects to be
2 financed by incurring debt without the approval of the
3 electors.
4 The General Assembly of the Commonwealth of Pennsylvania
5 hereby enacts as follows:
6 Section 1. Short title.
7 This act shall be known and may be cited as the Highway
8 Capital Budget Act for Fiscal Year 1997-1998.
9 Section 2. Authorizations.
10 The 1997-1998 capital budget projects in the category of
11 highway and safety improvement projects to be financed by the
12 incurring of debt are hereby itemized by base construction, land
13 or design phase together with their respective estimated costs
14 in the following sections.
15 Section 3. Berks County
16 (a) US 222
17 (1) Construction of new highway from Old
18 Lancaster Pike in Cumru Township to
1 Lancaster County Line, Brecknock
2 Township, Length 4.1 miles 90,200,000
3 (Base Project Allocation - $66,000,000)
4 (Land Allocation - $17,200,000)
5 (Design and Contingencies - $7,000,000)
6 (b) Warren Street
7 (1) Wyomissing Borough, construction of
8 bypass highway from Penn Avenue to Old
9 Lancaster Pike in Cumru Township,
10 Length 2.4 miles 72,500,000
11 (Base Project Allocation - $45,500,000)
12 (Land Allocation - $18,800,000)
13 (Design and Contingencies - $8,200,000)
14 Section 4. Debt authorization.
15 The Governor, Auditor General and State Treasurer are hereby
16 authorized and directed to borrow from time to time in addition
17 to any authorization heretofore or hereafter enacted, on the
18 credit of the Commonwealth, subject to the limitations provided
19 in the current capital budget, money not exceeding in the
20 aggregate the sum of $162,700,000 as may be found necessary to
21 carry out the acquisition and construction of the transportation
22 assistance projects specifically itemized in a capital budget.
23 Section 5. Issue of bonds.
24 The indebtedness authorized in this act shall be incurred,
25 from time to time, and shall be evidenced by one or more series
26 of general obligation bonds of the Commonwealth in such
27 aggregate principal amount for each series as the Governor, the
28 Auditor General and the State Treasurer shall determine, but the
29 latest stated maturity date shall not exceed 30 years.
30 Section 6. Appropriations.
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1 The net proceeds of the sale of the obligations authorized in
2 this act are hereby appropriated from the Capital Facilities
3 Fund to the Department of Transportation in the maximum amount
4 of $162,700,000 to be used by it exclusively to defray the
5 financial cost of the transportation assistance projects
6 specifically itemized in a capital budget. After reserving or
7 paying the expense of the sale of the obligation, the State
8 Treasurer shall pay to the Department of Transportation the
9 moneys as required and certified by it to be legally due and
10 payable.
11 Section 7. Effective date.
12 This act shall take effect July 1, 1997, or immediately,
13 whichever is later.
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