Pennsylvania Act 1929-247 — SEVENTH CLASS COUNTIES, INVESTMENTS

Act text

SEVENTH CLASS COUNTIES, INVESTMENTS
                 Act of Apr. 18, 1929, P.L. 607, No. 247              Cl. 16
                                  AN ACT

     Permitting county commissioners in counties of the seventh
        class, when acting as trustees of property for public
        purposes, to invest moneys in such trust in such securities
        as are lawful investments for funds in the hands of
        fiduciaries.

        Section 1.  Be it enacted, &c., That whenever the
     commissioners of any county of the sixth or seventh class of
     this Commonwealth have been heretofore, or may hereafter be,
     incorporated as commissioners or trustees of any real or
     personal property, the income whereof is to be expended for any
     public purpose or purposes within the county, it shall be lawful
     for such commissioners to invest and reinvest any moneys
     realized from the sale of any of such property, or from the
     repayment of any loan, in such securities as are by law made
     legal investments for funds in the hands of fiduciaries.
        (1 amended July 3, 1963, P.L.213, No.122)
        Section 1.1.  Notwithstanding the contrary provisions of any
     other law, whether general, local or special, any incorporated
     commissioners may sell, transfer or convey any real estate under
     their jurisdiction as incorporated commissioners, at any time
     after ten days following the publication of a notice of intent
     to sell has been published in a newspaper of general circulation
     in the county in which the real estate is situate, provided all
     other requirements of law relating to the sale thereof have been
     complied with, and unless objections to such sale, transfer or
     conveyance have been filed with the court of common pleas of
     such county during such ten-day period, in which case such real
     estate may not be sold, transferred or conveyed unless such
     objections are disallowed by the court or dismissed by the court
     for failure to providently pursue the same.
        (1.1 added July 3, 1963, P.L.213, No.122)
        Section 1.2.  Notwithstanding the contrary provisions of any
     other law, whether general, local or special, the annual
     compensation and mileage of county commissioners acting as
     incorporated commissioners, for their services as incorporated
     commissioners, shall be fixed for the year 1963, and annually
     thereafter before the beginning of any fiscal year following
     1963, by the court of common pleas of the county for which the
     commissioners serve as incorporated commissioners.
        (1.2 added July 3, 1963, P.L.213, No.122)