Harrisburg telegraph. [volume] (Harrisburg, Pa.) 1879-1948, 1916-08-24
Number Four.

A JOINT RESOLUTION
Proposing an amendment to section
eight, article nine OF the Constitution
Section l. Be it enacted by the SEN
ate and House of Representatives OF
the Commonwealth OF PENNSYLVANIA in
General Assembly met. and it is hereby
enacted by the authority of the same.
That the Constitution OF the Common
wealth of Pennsylvania in accordanc5
with the provisions OF the eighteenth
article thereof
Amendment to Article Nine, Section
That section eight of article nine OF
the Constitution be amended by strik-
in place thereof the following:-
Section g., The debt of any countyS
city. borough. township, school district
district, except as provided herein, and
in section fifteen of this article, shall
never The ex assess seven ya Gns per GentHm up
property therein. but the debt of the
city Of Philadelphia may be, increased
OF said city shall not exceed ten per
centum (10) upo the assessed value OF
the taxable property therein, nor shall
any new debt. or increase it's indebted
ness to an amount exceeding two (2l
per centum upon such assessed valua-
the electors thereof at a public elec7l
ton in such tanner as shall be pro-l
Nlutu ny law. III aSCeTIdlnlnR the hOF-I
rowing capacity of the said city OIL
Philadelphia. at any time, there shalt
be excluded from the calculation and
deducted from such debt SO much of the
debt of said city as shall have been in-'
Cured, and the proceeds thereof in
vested, In any public improvements OF
any character which shall be yielding
to the said city an annual current net
revenue. The amount OF such deduc-
ton shall be ascertained by capitalize
ing the annual net revenue from such
Improvement during the year immedi-
ately preceding the time of such asceL-
tainment; and such capitalization shalt
be estimated by ascertaining the prin-
cipal amount which would yield such
annual. current net revenue. at the
fund charges payable upon the indebf-
edness incurred by said city for SUCH
P ain9@sSt uR Fb te f mstb time % Of such ascer.
such amount, so to be deducted, nav
be prescribed by the General Assemble.
In mourning Indebtedness for any pur~i
pose the city of Philadelphia may issue
It's obligations maturing not later than
ifty (5O) years from the date thereof.
icient to retire said obligations at ma
ttmridty; the he payment n to such sinking;
or other periodical instalments. Where
n Indebtedness shall be or shall have,
been incurred by said city of PhiIadeI-4
PFi6oinS 6 for im ahs R%TPese Of of the DMbI GGonstrgc-
of any character from which income ort
revenue is to be derived by said CITY.
used in the construction of wharves on
docks owned or to be owned by saidl
city. u obligations my be In an
may include the amount of. the interestl
and sinking-fund charges accruing and
which may accrue thereon t~hrouPhoutl
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 interest and
~rinking-fund charges as required by
section ten. article nine OF the Constr
tuition of Pennsylvania. until the ex- :
plration OF said period. OF one year after !
the completion of said work.
A true copy Of Joint Resolution No. l |
CYRUS e. WOODS.
Secretary OF the Commonwealth u