As used in this act, the word "deficits" shall mean all unfunded obligations of the city and county of Philadelphia remaining unpaid as of the thirty-first day of December, one thousand nine hundred and thirty-eight; other indebtedness payable out of the current funds, including indebtedness evidenced by outstanding writs of mandamus execution; but not including obligations due the sinking fund commission.
53 P.S. § 15723