Debt authorization

Act 152 of 2006, § 7, under CAPITAL BUDGET AND PROJECT ITEMIZATION ACT OF 2006-2007.

Act 152 of 2006, § 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 sum of $38,134,000 as may be found necessary to carry out the acquisition and construction of the public improvement projects specifically itemized in a capital budget.

(b) Transportation assistance.--The Governor, the Auditor General and the 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 $10,500,000 as may be found necessary to carry out the acquisition and construction of the transportation assistance projects specifically itemized in a capital budget.

(c) Redevelopment assistance.--Subject to the limitation in section 317(b) of the act of February 9, 1999 (P.L.1, No.1), known as the Capital Facilities Debt Enabling Act, the Governor, the Auditor General and the 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 $126,250,000 as may be found necessary to carry out the redevelopment assistance capital projects specifically itemized in a capital budget.