Debt authorization

Act 148 of 1996, § 5, under CAPITAL BUDGET PROJECT ITEMIZATION ACT FOR 1996-1997.

Act 148 of 1996, § 5

Section 5. 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 $50,941,000 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 $128,089,000 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.