Estimated useful life and term of debt

Act 19 of 1995 (Sp. Sess. 1), § 6, under CORRECTIONS AND SECURE FACILITIES CAPITAL BUDGET PROJECT ITEMIZATION ACT.

Act 19 of 1995 (Sp. Sess. 1), § 6

Section 6. 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.