Debt authorization

Act 101 of 1996, § 7, under CAPITAL BUDGET ACT OF 1996-1997.

Act 101 of 1996, § 7

Section 7. Debt authorization.

(a) Public improvements.--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 $352,641,000 as may be found necessary to carry out the acquisition and construction of the public improvement projects specifically itemized in a capital budget.

(b) Furniture and equipment.--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 $919,000 as may be found necessary to carry out the public improvement projects consisting of the acquisition of original movable furniture and equipment specifically itemized in a capital budget.

(c) Redevelopment assistance.--Subject to the limitation in section 1616.1-B(b) of the act of April 9, 1929 (P.L.343, No.176), known as The Fiscal Code, 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 $10,000,000 as may be found necessary to carry out the redevelopment assistance and the redevelopment capital assistance projects specifically itemized in a capital budget.