Nonelectoral debt means all debt determined as herein
Nonelectoral debt means all debt determined as herein provided, incurred or authorized to be incurred, except electoral debt and lease rental debt, in each case whether authorized before or after the effective date of this act, and whether before or after the debt is incurred. Net nonelectoral debt means a portion of nonelectoral debt as determined in accordance with Article II.” [53 PS 6780-2 (a)(3)]