The Auditor General and State Treasurer, under the direction of the Governor, are hereby authorized to give notice to the holders of bonds of series “B” loan of the Commonwealth of Pennsylvania, issued under said date of August second, one thousand nine hundred and twenty, in such manner, by advertisement or otherwise, as the Governor may direct, that said bonds may be exchanged for other bonds of said Commonwealth, to be known as “series ‘B’ loan of the Commonwealth of Pennsylvania,” to be issued as of August second, one thousand nine hundred and twenty-one, bearing such a rate of interest, and for such a term, and subject to the payment of such premium, as the next regular issue of bonds sold under the provisions of the said act of April eighteenth, one thousand nine hundred and nineteen,¹ as amended: Provided, however, That the owners or holders of said bonds shall, on or before August second, one thousand nine hundred and twenty-one, file with the State Treasurer or Auditor General a request to have said bonds exchanged, and shall, at the same time, deposit with the State Treasurer the bonds to be exchanged, together with the amount of premium due under this act. No person who has failed to file said request, deposit said bonds, and pay said premium as provided, shall be entitled to make such exchange.