The star-independent. [volume] (Harrisburg, Pa.) 1904-1917, 1914-10-17
Number Two

proposing an amendment to section
eeight OF article nine of the Constitu-
ton of Pennsylvania.
section Be II resolved by the SEN
ate and House of Representatives OF
tne Commonwealth of Pennsylvania in
General Assembly met, That the fol.
lowing is proposed as an amendment to
the Constitution of the Commonwealth
or PENNSYLVANIA. in accordance with tine
provisions of the eighteenth article
Amend section eight, article nine of
the Constitution of the Commonwealth
lows;
Section s. The debt OF auv county.
city. borough, township. school district
or other municipality or INCORPORATED
district, except as herein provided. shall
never exceed seven per centum upon
the assessed value of the taxable prom
erty therein, nor shall any such mlinici-
patty or district incur any new debt.
or Increase its Indebtedness to an
amount exceeding two per centum upon
such assessed valuation of property.
without the assent of the electors there
or at public election in such manner
as shau he provided by law: but any
city. the debt OF which now exceeds
seven per centum of such assessed val
nation, 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 Philadelphia for the con-
struction and development of subways
Tor transit purposes, or for the con
structlon 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 improvements
owned or to be owned by said city and
county of Philadelphia, and which shall
yield TO the city and county of Phila-
delphia current net revenues in excess
OF the interest on said debt or debts
and of the annual installmenta neces-
NJ 1nh
or debts. may be excluded in ascer-
tanning the power os the city and coun-
ty of Philadelphia to become other
Ing fund for their cancellation shall be
established and maintained" so that
1t shall read as follows:
Section s. The debt of any county.
city. borough. township, school district
or other municipality or incorpora ted
district, except as herein provided, shall
never exceed seven per centum upon
the assessed value, of the taxable prop
erty therein, nor shall any such munici-
pality or district incur any new debt,
or increase its Indebtedness to an
amount exceeding two per centum upon
such assessed valuation of property.
without the consent of the electors
thereof at a. public election in such
manner as shall be provided bv law:
but any city. the debt of which on the
first day of January, one thousand
eight hundred and seventy four, ex-
ceeded seven per centum of such as
sessed valua tion. and has not since been
reduced to less than such per cenutm
may be authorized by law to increa Sc
the same three per centum in the ag-
gregate at any one time, upon such
valuation. The city of Philadelphia,
upon the conditions hereinafter set
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 facilitles 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 by law.
In ascertaining the borrowing capacity
of said city of Philadelphia, at any
time. there shall be excluded from the
calculation credit, where the work
resulting from any previous eXpendi-
ture, for any one or more of the spe-
cific purposes hereinabove enumerated
shall be yielding to said city an annual
current net revenue; the amount of
which credit shall be ascertained by
capitalzlns the annual net revenue
during the year Immediately preceding
the time of such ascertainment Such
capitalization shall be accomplished by
ascertaining the principal amount
which would yield such annual, current
net revenue, at the average rate of in
terest. and sinking fund charges pay
able upon the Indebtedness incurred by
said city for such purposes, UP to the
time of such ascertainment. The meth
cd of determining such amount so to
be excluded or allowed as credit may
be prescribed by the General Assem-
bly,.
N mourning Indebtedness. for any
one or more of said purposes of con-
struction, 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 sickingfund sufficient
to retire said obligation at maturity.
the payments to such sinking fund TO
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-
Ing and which may accrue thereon
of ascertainment of such compensation
and the maximum and minimum limits
thereof, and providing special or gen.
eral remedies for the collection thereof;
but in no other cases shall the General
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 injur-
les, the right of action shall survive
ana the GtneTdl Assembly snail pre-
scribe for whose benefit such actions
shall be prosecuted. No act shall pre-
scribe any limitations of time within
which suits may be brought against
corporations for injuries to persons OF
property or for other causes, different
from those fixed by general laws regu-
lating 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
be required to levy a tax to pay said
required by section ten of article nine
of the Constitution of Pennsylvania,
until the expiration of said period of
one year after the completion of such
work.
A true copy of Joint Resolution No. 9
ROBERT McAFEE,
Secretary of the Commonwealth