Estimated useful life and term of debt

Act 52 of 2005, § 7, under CAPITAL BUDGET AUTHORIZATION AND HIGHWAY PROJECT ITEMIZATION ACT OF 2005-2006.

Act 52 of 2005, § 7

Section 7. Estimated useful life and term of debt.

(a) Estimated useful life.--The General Assembly states that the estimated useful life of the public highway 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.