Pennsylvania Act 1929-80 — SUPPLEMENTING ACT, STATE BONDS

Act text

SUPPLEMENTING ACT, STATE BONDS
                  Act of Mar. 25, 1929, P.L. 70, No. 80               Cl. 72
                               A SUPPLEMENT

     To the act approved the eighteenth day of April, one thousand
        nine hundred nineteen (Pamphlet Laws, sixty-two), 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 Sinking
        Fund Commission; 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 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 loan and transfer agent of the Commonwealth
     registered bonds--issued under the authority of the act,
     approved the eighteenth day of April, one thousand nine hundred
     nineteen (Pamphlet Laws, sixty-two), 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 Sinking Fund Commission; 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 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 said loan and transfer agent shall
     hereafter, 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.