Pennsylvania Act 1927-257 — SUPPLEMENTARY ACT

Act text

SUPPLEMENTARY ACT
                 Act of Apr. 27, 1927, P.L. 402, No. 257              Cl. 72
                               A SUPPLEMENT

     To the act, approved the sixth day of March, one thousand nine
        hundred and twenty-five (Pamphlet Laws, twenty-four),
        entitled "An act authorizing the issue and sale of bonds to
        the amount of fifty millions of dollars by the Commonwealth
        of Pennsylvania; defining the powers and duties of the
        Governor, the Auditor General, and the State Treasurer, in
        relation thereto; making an appropriation of the proceeds of
        such bonds for the purpose of improving and rebuilding the
        highways of the Commonwealth; providing for the payment of
        interest on, and the redemption of, such bonds by the Board
        of Finance and Revenue, and for the sale and registration of
        said bonds; and making an appropriation to carry out the
        provisions of this act," prescribing the method for making
        exchanges and transfers of registered and coupon bonds issued
        under the authority of the said act; and fixing the future
        compensation of the loan and transfer agent of the
        Commonwealth for services in connection with the said bonds.
        Section 1.  Be it enacted, &c., That whenever there shall be
     tendered to The Philadelphia-Girard National Bank, loan and
     transfer agent of the Commonwealth, registered bonds, issued
     under the authority of the act, approved the sixth day of March,
     one thousand nine hundred and twenty-five (Pamphlet Laws,
     twenty-four), entitled "An act authorizing the issue and sale of
     bonds to the amount of fifty millions of dollars by the
     Commonwealth of Pennsylvania; defining the powers and duties of
     the Governor, the Auditor General, and the State Treasurer, in
     relation thereto; making an appropriation of the proceeds of
     such bonds for the purpose of improving and rebuilding the
     highways of the Commonwealth; providing for the payment of
     interest on, and the redemption of, such bonds by the Board of
     Finance and Revenue, and for the sale and registration of said
     bonds; and making an appropriation to carry out the provisions
     of this act," to be exchanged for other registered bonds, or for
     coupon bonds, or whenever there shall be tendered to said loan
     and transfer agent coupon bonds issued under the authority of
     said act to be exchanged for registered bonds, said loan and
     transfer agent shall countersign and deliver to the holder of
     bonds so tendered, upon the cancellation thereof, bonds of the
     same tenor and date, excepting the difference in provisions
     between registered and coupon bonds, bearing the facsimile
     signatures of the Governor, Auditor General, and State
     Treasurer, in office at the date of the original issue of bonds
     under said act, and countersigned by two duly authorized
     officers of said loan and transfer agent.
        Section 2.  That in lieu of the compensation payable to said
     loan and transfer agent under the provisions of section seven of
     the act to which this act is a supplement, said loan and
     transfer agent shall, from time to time, receive such
     compensation for its services rendered under the provisions of
     said act as shall be fixed by the Governor, the Auditor General,
     and the State Treasurer, not to exceed, however, the sum of
     seven thousand five hundred dollars ($7,500) per annum.