Harrisburg telegraph. [volume] (Harrisburg, Pa.) 1879-1948, 1915-08-14
Number Two.
JOTNT u PES0IJTTON

"A JOlNI llNN
Proposing an amendment to section
eight of article nine of the Consti-
tuition of Pennsylvania.
Section l. Be it resolved by the Sen
the the commonwealth Of Pennsyivania in
General Assembly met, That the fol-
lowing is proposed as an amendment to
the Constitution of the Commonwealth
provisions of the eighteenth article
thereof
Amend section eight. article nine OF
the Constitution of the Commonwealth
of Pennsylvania, which reads as fol-
lows:
Section s. The debt of any county
city, borough, township, school district
or other municipality, or incorporated
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 property,
without the assent of the electors there
of at a public election in such manner
a shall be provided by law: but any
city, the debt of which now exceeds
seven per centum CT such assessed val
uation, 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
construction and development of sub
ways for transit purposes. or for the
construction of wharves and docks, OF
the reclamation of land. to be used In
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 the annual instalments necessary
for the cancellation of said debt OF
debts may be excluded in ascertainine
the power of the city and county OF
Philadelphia to become otherwise In
debted: Provided, That sinking-fund
for their cancellation shall be estab.
lished and maintained" so that 1t shall
Section s. The debt of any county
city, borough, township, school district
or other municipality or incorporated
district, except as herein provided, shall
the assessed value of the taxable prop.
erty therein. nor shall any such mu.
nicipality or district incur any new
debt, or increase its Indebtedness to ar
amount exceeding two per centum upor
such assessed valuation of property
without the consent of the eIector,
thereof at public election in sucf
but any city, the debt of which on tn,
hrst day of January, one thousand
eight hundred and seventy-four. ex,
ceeueu seven per CeHlum OF such as
; sessed valuation, and has not since beer
reduced to less than such per centum
may be authorized by law to increase
the same three per centum In the ag
gregate, at any one time, upon sucf
valuation. The city of Philadelphia
upon the conditions hereinafter Sc
forth. may Increase its indebtedness l.
the extent of three per centum In excess
of seven per centum upon such as
sessed valuation for the specific pur
pose OF providing for all or any of tn,
following purposes, = to wit: For tn,
, construction and Improvement of sub
ways, tunnels, railways. elevated rail-
ways, and other transit facilities; fol
the construction and Improvement O.
wharves and docks and for the re-
clamation of land to be used In tn,
construction Of wharyes and docks
Such increase, however. shall only b
thereof at a public election, to be helix
in such manner as shall be provided
by law. In ascertaining the borrowing
capacity of said city Of hiladelphia, a
any time, there shall be excluded from
the calculation credit, where the worl
resulting from any previous expendi
ture, for any one or more of tn,
specific purposes hereinabove enumer
ated shall be yielding to said city al
annual current net revenue the amour
of which credit shall be ascertained b,
capitalizing the annual net revenu,
during the year Immediately precedinS
the time of such ascertainment Suci
capitalization shall be accomplished b,
which would yield such annual, cur