§ 20032. Bonds--Issue, maturity, interest, et cetera
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 51 P.S. Military Affairs
51 P.S. § 20032
§ 20032. Bonds--Issue, maturity, interest, et cetera
(a) As evidence of the indebtedness herein authorized, bonds of the Commonwealth of Pennsylvania shall be issued, from time to time, for such total amounts, in such form, in such denominations, and subject to such terms and conditions of issue, redemption and maturity, not to exceed thirty years, rate of interest, not to exceed four and one-half per centum per annum, and time of payment of interest as the Governor, Auditor General, and State Treasurer shall direct.
(b) All bonds issued under the authority of this act shall bear the facsimile signatures of the Governor, Auditor General, and State Treasurer, and a facsimile of the great seal of the Commonwealth of Pennsylvania, and shall be countersigned by two duly authorized officers of the duly authorized loan and transfer agent of the Commonwealth.
(e) The Governor, the Auditor General, and the State Treasurer shall proceed to have the necessary bonds prepared and printed. The bonds, as soon as they are prepared and printed, shall be forthwith deposited with the duly authorized loan and transfer agent of the Commonwealth, there to remain until sold in accordance with the provisions of this act.
Credits
1934, Jan. 5, P.L. (1933) 219, No. 52 (Spec. Sess. No. 1), § 2.
51 P.S. § 20032, PA ST 51 P.S. § 20032
Current through Act 13 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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