Harrisburg telegraph. [volume] (Harrisburg, Pa.) 1879-1948, 1914-09-14

| 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
cehtum, in the aggregate, at any one
time upon such valuation, except that
any debt or debts hereinafter incurred
hy the city and county of Philadelphia
for the construction and development
of subways for transit purposes, or for
the construction of wharves and docks,
or the reclamation of land to be USED
i'm the construction of a system of
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 or, said debt or
debts. and of the annual installmenta
necessary for the cancellation of SAID
debt or debts, may be excluded in as
certaining the power of the city and
erwise indebted: Provided, That a
sinking fund for their cancellation
shall Be established and maintained"
Section 8. The debt of any county,
city. borough, township. school dis.
trict, or other. municipality or incor-
iYided 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 it's Indebtedness
to an amount exceeding two per CEN
. tum upon such assessed valuation of
property, without the assent of the
electors thereof at public election
i'm such manner as shall be provided
by law; but any city, the debt of which
now exceeds seven per ce.ntum of such
assessed a valuation. may be authorized
by law to increase the same three per
centum in the, aggregate, at any one
any debt or debts hereinafter incur
red by the city and county of Philadel-
ment of wharyes and docks. or the re-
ciamation of land to be used in the
construction of system of wharVes
and docks. as public improvements,
county of Philadelphia. and which
shall yield to the city and county Of
cess aas'' 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
city and county of Philadelphia to be-
come otherwise Indebted: Provided,
uhat ths cty sS'a and county Of PSiladelphIgg
shall not at any time, In the aggregate,
exceed the sum of twenty five million
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 bullheads. and
the purchase or construction or lease
of wharves. docks. sheds. and ware
houses, and other buildings and facil-
ities, necessary for the establishments
and maintenance of railroad and ship
ping terminals along the said rivers;
and the dredging of the said rivers and
docks: Provided, That the said citv
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 principal
thereof within fifty years from the in
curing thereof
4 true copy of Joint Resolution No. g.
ROBERT McAFEE
Secretary or the Commonwealth.