§ 6163. Sale of bonds
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 74 Pa.C.S.A. Transportation
74 Pa.C.S.A. § 6163
§ 6163. Sale of bonds
(a) Public sale.--Whenever bonds are issued, they shall be offered for sale at not less than 98% of the principal amount and accrued interest and shall be sold by the Governor, Auditor General and State Treasurer to the highest and best bidder or bidders after due public advertisement, on such terms and conditions and upon such open competitive bidding as the Governor, Auditor General and State Treasurer shall direct. The manner and character of the advertisement and the times of advertising shall be prescribed by the Governor, Auditor General and State Treasurer.
(b) Private sale.--Any portion of any bond issue so offered and not sold or subscribed for may be disposed of by private sale by the Governor, Auditor General and State Treasurer in such manner and at such prices, not less than 98% of the principal amount and accrued interest, as the Governor shall direct. No commission shall be allowed or paid for the sale of any bonds issued under the authority of this subchapter.
Credits
1984, Oct. 10, P.L. 837, No. 164, § 1, imd. effective.
74 Pa.C.S.A. § 6163, PA ST 74 Pa.C.S.A. § 6163
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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