(a) An amendment to article IX of the Constitution of Pennsylvania was adopted by the people of the Commonwealth of Pennsylvania on November 5, 1963, which reads as follows:

“Section 24--In addition to the purposes stated in article IX, section 4 of this Constitution, the Commonwealth may be authorized by law to create debt and to issue bonds to the amount of seventy million dollars ($70,000,000), for the acquisition of land for State parks, reservoirs and other conservation and recreation and historical preservation purposes, and for participation by the Commonwealth with political subdivisions in the acquisition of land for parks, reservoirs and other conservation and recreation and historical preservation purposes, subject to such conditions and limitations as the General Assembly may prescribe.”

(b) Pursuant to the permission granted by the Constitutional amendment hereinabove set forth, the Governor, Auditor General and State Treasurer are hereby authorized and directed to borrow, from time to time, on the credit of the Commonwealth and subject to the conditions and limitations of this act, money not exceeding in the aggregate the sum of seventy million dollars ($70,000,000), as may be found necessary to carry out the purposes of the aforesaid amendment, and statutes passed in conformity therewith.