Harrisburg telegraph. [volume] (Harrisburg, Pa.) 1879-1948, 1918-08-05
CN RIN z. WOODS,
Secretary of the Commonwealth.
Number Two.
A Joint RESOI JTTION

proposing an amendment to section
eight. article nine of the Constitu-
tion of Pennsylvania.
Section l. Be ii enacted by the Sem
ate and House of Representatives of
the CommonWe alth of Pennsylvania in
General Assembly met and 1t is here
same. That the Constitution of the
Commonwealth of Pennsylvania, in
accordance with the provisions of the
eighteenth article thereof
Amendment to Article Nine, Section
Eight.
That section eight of article nine. of
the Constitution be amended by strik-
ing out the said section and inserting
in place thereof the following 3
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 gsection fifteen of this
article, shall never exceed seven (7)
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 10) 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 (2) 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
by law. In ascertaining the borrow
ing capacity of the said city of Phila-
delphia, at any time. there shall be ex-
cluded from the calculation and de-
Quoted from such debt so much of the
debt of said city as shall have been
incurred. and the proceeds thereof in
vested, in any public Improvements
OF any character which shall be yield
ing to the said city an annual current
net revenue. The amount of such de-
duction shall be ascertained by capi-
taliZing the annual net revenue from
such Improvement during the year
Immediately preceding the time of
such ascertainment: and such capitalf-
zation shall be estimated by ascer-
tanning 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
method of determining such amount,
so to be deducted. may be prescribed
by the General Assembly. In incurr-
ing Indebtedness for any purpose the
city of Philadelphia may issue its OBJ
legations maturing not later than
fifty (50) years from the date there
of. with provision for sinking-fund
sufficient to retire said obligations at
maturity. the payment to such sink
ing-fund to be in equal or graded an
nual or other periodical instalments.
Where any inde ebtedness shall be or
shall have been incurred by said city
of Philadelphia for the purpose of the
construction or improvement of pub
lie works of any character from which
income 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 own
ed by said city. such obligations may
be in an amount sufhctent to provide
for, and may include the amount of.
the interest and sinking-fund charges
accruing and which may accrue there
on throughout the period of construc-
ton, 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 tax to pay said
interest and sinking-fund charges
az required by section ten. article nine
Of the Constitution of Pennsylvania.
until the expiration of said period of
one year after the completion of said
A true copy of Joint Resolution
~ CYRUS f. WOODS.
Secretary of the Commonwealth.
PROPOSED AMENDMENTS TO THE
CONSTITUTION SUBMITTED TO THE
WEALTH W FOR THEIR APPROVAL
OR REJECTION. BY THE GENERAL
ASSEMBLY OF THE COMMON
WEALTH OF PENNSYLVANIA. AND
FURNISHED BY ORDER OF THE
SECRETARY OF THE COMMON
WEALTH. IN. PURSUANCE OF AR
TTCLE XVIII OF THE CONSTITU-
TION.
Number One t.
A JOINT RESOLUTION
Proposing an amendment to section
eleven of article sixteen of the Con-
stitution of Pennsylvania
Be 1t resolved by the Senate and
House of Representatives of the Com
monwealth of Pennsylvania In Gem