Section 16. 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 as follows:
(1) Public improvement projects, 30 years.
(2) Furniture and equipment projects, 10 years.
(3) Transportation assistance projects:
(i) Rolling stock, 15 years.
(ii) Passenger buses, 12 years.
(iii) Furniture and equipment, 10 years.
(iv) All others, 30 years.
(b) Term of debt.--The maximum term of the debt authorized to be incurred under this act is 30 years.