Harrisburg telegraph. [volume] (Harrisburg, Pa.) 1879-1948, 1914-10-12

porated district. except as herein pro-
vided, shall never exceed seven per
! centum upon the assessed value of the
taxable property therein nor shall any
such municipality or district incur any
new debt. or increase its Indebtedness
to an amount exceeding two per centum
upon such assessed valuation of prop
erty. without the assent of the cleo
tors thereof at a public election in
such manner as shall be provided by
law; but any city. the debt of which
now exceeds seven per centum of such
assessed valuation, may be authorized
by law to increase the same three per
centum. In the aggregate. at any one
time upon such valuation, except that
any debt or debts hereinafter incurred
by the city and county OF Philsdelphia
of subways for transit purposes or for
the construction of wharves and docks,
or the reclamation of land to be used
wharves and docks. as public improve
ments, owned or to be owned by said
which shall yield to the city and county
! Of Philadelphia current net revenue in
excess of the interest on said debt or
debts. and of the annual installments
necessary for the cancellation of said
debt or debts, may be excluded in as
certaining the, power of tie city and
Sinking fund for their canceiiation
shall be established and maintained .
Section s. The debt of any county.
CITY, borough. township. school dis
trict, or other municipality or incor-
/ Yided shall never exceed seven per
/ centum upon the assessed value of the
taxable property therein, nor shall any
new debt or increase its indebtedness
I to an amount exceeding two per CEN
tum upon sneh assessed th yaInation OF
Electors thereof at a publi~ election
in such manner as shall be provided
Nv law; but any city. the debt of which
/ now exceeds seven per centum of such
assessed valuation, may be authorized
( by law to increase the same three per
centum in the aggregate, at any one
| time, upon such valuation; except that
any debt or debts hereinafter incur
red by the city and county of Philadel-
phIa for the construction and develop
rnent OF wharves and docks, or the re-
clamation of land to be used in the
/ construction of a system of wharves
owned or to be owned by said city and
county of Philadelphia, and which
shall yield to the city and county OF
i Philadelphia current net revenue In eX-
cess of the interest on said debt OF
debts and of the annual installments
! debt or debts. may be excluded
] in ascertaining the power of the
city and county of Philadelphia to be.
That such Indebtedness incurred by
the city and county of philadelphia
shall not at any time. In the aggregate
dollars for the purpose of Improving
and developing the port of the said
city and county. by the condemnation
purchase, or reclamation or lease OF
land on the banks of the Delaware and
Schulykill rivers and land adjacent
thereto: the building bulkheads, anC
the purchase or construction or lease
of wharVes docks. sheds. and ware.
houses. and other buildings and facIl.
ities. necessary for the establishment
and maintenance of railroad and ship.
ping terminals along the said rivers
and the dredging of the said rivers ant
docks Provided. That the said city
and county shall. at or before the time
of so doing, provide for the collection
of an annual tax sufficient to pay the
interest thereon, and also the princtpa
thereof within fifty years from the in.
curing thereof
true copy of joint Resolution No s
ROBERT McAFEE.
Secretary of the Commonwealth