The star-independent. [volume] (Harrisburg, Pa.) 1904-1917, 1914-10-24
Number Two
A JOINT RESOLUTION
Ffoposing an amendment to sectiC


a JOINT RESOLUTION
proposing an amendment to section
eisnt or article nine of the Constitu-
tion OF PENNSYLVANIA.
ate and House of Representatives ~
the commonwealth of Pennsylvania in
General Assembly met That the fol.
tI LIVING is proposed as an amendment to
ne constitution of the Commonwealth
or pennsylvania. in accordance with the
PROVISIONS provision of the eighteenth article
Amend section eight, article nine of
the Constitution of the Commonwealtb
lows: N" ie"uS as lol-
section $; The debt of any county
or otbor bborousn, township, school district
y! o!her municipality or incorporated
alstrlct except as herein provided, shall
never exceed seven per centum ma
me assessed value of the taxable prop
naIitv v"erein er a; nor shall any such munich
panty or district incur any new deht
or increase its Indebtedness to an
amount exceeding two per centum upon
.ith sGSh assessed valuation of property.
OF AZ a public election in such manner
as shall be provided by law: but anv
city the debt of which now exceeds
nstSm ,'ati per eentum of such assessed val
iation, may be authorized by law 10
increase the same three per centum. in
the aggregate. at any one time unon
5aSa SaSh Valaation; except that any debt or
iSllldlltT incurred bN the cify
ana county of Philadelphia for the con-
Struction and development of sItbwavs
Tor transit purposes. or for the con
serIIeu1oh secIe i, OF wharves and docks, or the
CONSTRUCTION of a system of wharves
ana COCKS, as public improvements
owned or 10 pc owned by said city and
county of Philadelphia and which shall
yield to the city and county of PbiIa-
delphla current net revenues in excess
ol the interest on said debt or debts.
ana OF the annual installments neces-
sary Tor the cancellation of said debt
or debts. may be excluded in ascer
tanning the power of the city and coun-
1y OF Philadelphia to become other
wise indebted; Provided, That a sink
ing fund for their cancellation shall be
established and maintained" SO that
1t shall read as follows:
Section s. The debt of anv countv
CITY, porough, township, school district
or other municipality or incornorated ed
district, except as herein provided, shall
never exceed seven per centum mon
the assessed value of the taxable prop
erty therein, nor shall any such munich
patty or district incur any new debt
or increase its Indebtedness to an
amount exceeding two per centum upon
snen assessed valuation of property.
thereof at a. public election in such
manner as shall be provided bv law.
but any city. the debt of which on the
hrst DAY OF January. one thousand
Y
ceeded seven per centum of such as
sessed valuation, and has not since been
reduced to less than such per cenutm
may oe authorized by law to increase
the same three per centum in the ar
gregate. at any one time upon such
valuation The city of Phiiadelphia
upon the conditions hereinafter set
forth. may increase its indebtedness
to the extent of three per centum in
excess of seven per centum upon such
assessed valuation for the specific pur-
pose OF providing for all or any of the
following purposes,-to wit For the
construction and Improvement OF sub
ways. tunnels, railways, elevated rail
ways, and other transit facilities: for
the construction and Improvement OF
wharves and docks and for the recla-
nation of land to be used in the con
struction of wharves and docks. owned
or to be owned by said city. Such in
crease, however shall only be made
with the. assent of the electors thereof
at public election, to be held In such
manner as shall be provided bv law
In ascertaiuing the borrowing capacity
time, there shall be excluded from the
calculation a credit, where the work
resulting from any previous expendi-
diae oufe' ns. tor any one h or more more of the spe-
shall be yielding to said city an annual
current net revenue; the amount of
which credit shall be ascertained by
capitalizing the annual net revenue
during the year Immediately preceding
the time of such ascertainment SucR
capitalization shall be accomplished by
aseertalning the principal amount
which would yield such annual, current
net revenue, at the average rate of in
terest, and sinking fund charges paw
able upon the Indebtedness incurred by |
time of such ascertainment The meth |
cd or determining such amount so to |
be excluded or allowed as a credit. NAV
be prescribed by the General Assem- |
bly,.
IN mourning indebtedness, for anv
one or more of said purposes of con- |
Improvement, or reclamation |
the city of Philadelphia may issue its |
obligations maturing. not later than !
fifty years from the date thereof. with |
provision for a si"king-fund sufficient !
TO retire said obligation at maturity. |
the payments to such sinking fund 10 |
be in equal or graded annual INSTALL |
ments. Such obligations may be in an
amount sufficient to provide for and |
may include the amount of the inter-
est and sinking-fund charges accru-
of ascertainment of such compensation
and the maximum and minimum limits
thereof, and providing special or gem
eral remedies for the collection thereof.
Assembly limit the amount to be re-
covered for injuries resulting in death.
Or for injuries to persons or property
and in case of death from such ,iniur,
les the right of action shall survive.
and the General Assembly shall pre,
scribe for whose benefit such actions
scribe any limitations of time within
which suits may be brought against
corporations for injuries to persons or
property, or for other causes, different
from those fixed by general laws reeu-
ating actions against natural persons.
throughout the period of construction
and until the expiration of one year
after the completion of the work for
which said Indebtedness shall have
been incurred ;and said city shall not
De required to levy tax to paw said
interest and sinlSing-fund charges, as
-equired by section ten of article nine
If the, Constitution of Pennsylvania,
Intil the expiration of said period os
work. s
A true copy of Joint Resolution No. 9.
ROBERT McAF FEE
Secretary of the Commonwealth.