Harrisburg telegraph. [volume] (Harrisburg, Pa.) 1879-1948, 1916-10-26
Number Four.
TnINT EGnI IrnVTNAy

Number Four.
A JOINT RESOLUTION
Proposing an amendment TO section
eight article nine OF the Constitution
Section i. Be it enacted by the Sen
ate and House ~ Representatives OF
the Commonwealth OF Pennsylvania in
enacted by the authority of the same.
That the Constitution OF the Common,
wealth OF Pennsylvania. in accordance
with the provisions OF the eighteenth
article thereof
Amendment to Article Nine. Section
That section eight of article nine of
the Constitution he amended by strik-
ing in paee HSt the Ss seet9n and
Section s., The debt OF any county,
city, borough, township, school district,
district except as provided dR1Ir4DfIeed Rerein aed
in section fifteen of this article shall
never exceed seven 90 per centum up
property therein, but the debt Of the
city of Philadelphia may be increased
in such amount that the total city debt
centum (10) upon the assessed value of
the taxable property therein, nor shall
any such municipality or district incur
any new debt, or increase it's Indebted
ness to an amount exceeding two (2)
per centum upon such assessed valua-
the electors thereof at a public cleo
ton in such manner as shall be pro-
Vloeo Dy law. IN ascertalnlng the bor-
Philadelphia, at any time, there shall
be excluded from the calculation and
deducted from such debt so much of the
CURED. and the proceeds thereof in
vested. in any public improvements of
to the said city an annual current net
revenue. The amount of such deduc-
tion shall be ascertained by ,capitaliz-
improvements during the year immedi-
ately preceding the time of such ascct-
tainment; and such capitalization shall
be estimated by ascertaining the prin-
cipal amount which would yield such
annual. current net revenue, at the
fund charges payable upon the indebt
edness incurred by said city for such
purposes. UP to the time Of such ascer-
such amount. so to be deducted, may
be prescribed by the General Assembly.
In incurring Indebtedness for any pur-
pose the city of Philadelphia may issue
it's obligations maturing not later than
fifty 600 years from the date thereof,
cient to retire said obIieatons at 1ul ma
fund to be IN equal or graded annual
any Indebtedness shall be or shall have
been incurred by said city of Philadel-
phia for the purpose Of the ,construc-
of any character from which income or
revenue lis to be derived by said city,
or for the reclamation of land to be
used in the construction of wharves or
docks owned or to be owned by said
city, such obligations my be in an
amount sufficient to provide for, and
may include the amount of. the interest
and sinking-fund charges accruing and
which may accrue thereon throughout
the period of construction, and until
the expiration of one year after the
completion OF the work for which said
indebtedness shall have oeen nslncurred:
levy a tax to pay said interest and
ninking-fund charges as required by
section ten, article nine of the Consti-
tuition of Pennsylvania until the ex-
piration of said period of one year after
the completion of said work.
A true copy of Joint Resolution No. Z
CYRUS e. WOODS,
Secretary Of the Commonwealth