Harrisburg telegraph. [volume] (Harrisburg, Pa.) 1879-1948, 1918-08-05
y NJ = IL NooDSs
Secretary of the Commonwealth.
Number Three.
InJNT pEGOI

A JOINT RESOLUTION
Proposing an amendment to article
nine, section eight of the Constitu-
tion of Pennsylvania
Section l. Be IL resolved by the
Senate and House of Representatives
in General Assembly met. That the
following amendment to the Consti-
tuition of Pennsylvania be. and the
same is hereby. proposed. in accord =
ance with the eighteenth article
thereof
That article nine, section eight. be
amended to read as follows:
Section s. The debt of any county,
city. borough. township. school dis
trict, or other municipality or incor-
porated district, except as provided
herein, and in section fifteen of this
article, shall never exceed seven 90
per centum upon the assessed value of
the taxable property therein, but the
debt of the city of Philadelphia may
be increased in such amount that the
total city debt of said city shall not
exceed ten per centum G0) upon the
assessed value of the taxable prop
erty therein, nor shall any such mu-
nicipality or district incur any new
debt, or increase it's Indebtedness to
an amount exceeding two CD per
centum upon such assessed valuation
of property, without the consent of
the electors thereof at public cleo
tion in such manner as shall be pro-
vided by law. In ascertaining the
borrowing capacity of the city OF
Philadelphia, at any time, there shall
be deducted from such debt so much
of the debt of said city as shall have
been incurred, or is about to be i'm
Cured. and the proceeds thereof eX-
pended, or about to be expended, up
on any public Improvement, or in the
construction, purchase, or condemna-
thereof. or facility therefor, IL such
public improvement or public utility,
or part thereof, whether separately or
in connection with any other pubic
improvement or public utility, or part
thereof, may reasonably be expected
to yield revenue in excess of operat-
ing expenses sufficient to pay the in
terest and sinking fund charges there
on. The method of determining such
amount. so to be deducted. may be
prescribed by the General Assembly.
In mourning Indebtedness for any
purpose the city of Philadelphia may
issue it's obligations maturing not
later than fifty (50) years from the
date thereof, with provision for a
sinking-fund sufficient to retire said
obligations at maturity, the payment
to such sinking fund to be in equal
or graded annual or other periodical
instalments. Where any indebtedness
shall be or shall have been incurred
by said city of Philadelphia for the
purpose of the construction or i'm
proVements of public works or utili-
ties of any character, from which IN
come or revenue is 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
may be in an amount sufhcient TO pro-
vide for, and may include the amount
of the interest and sinking-fund
charges accruing and which may ac.
crue thereon throughout the period
of construction, and until the eXpira-
tion of one year after the completion
of the work for which said indebted
ness shall have been incurred; and
said city shall not be required to levy
a tax to pay said interest and sink
ing-fund charges as required by Sec
tion ten, article nine of the Constitu
tion of Pennsylvania. until the expira-