Whenever there shall be tendered to The Philadelphia-Girard National Bank, loan and
transfer agent of the Commonwealth, registered bonds, issued under the authority of
the act, approved the sixth day of March, one thousand nine hundred and twenty-five
(Pamphlet Laws, twenty-four), 1 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 Board of Finance and Revenue, and for
the sale and registration of said bonds; 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 the 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.
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