Pennsylvania § 6163 Sale of bonds

Pennsylvania Statutes

§ 6163 — Sale of bonds

Pennsylvania § 6163

JurisdictionPennsylvania

Title 74TRANSPORTATION

PartPART III

Ch. 61AVIATION DEVELOPMENT

Subch.BOND ISSUANCE

This text of Pennsylvania § 6163 (Sale of bonds) is published on Counsel Stack Legal Research, covering Pennsylvania primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

74 Pa. Cons. Stat. § 6163 (2026).

Text

(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

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(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.

(c) Series.--When bonds are issued from time to time, the bonds of each issue shall constitute a separate series to be designated by the issuing officials or may be combined for sale as one series with general obligation bonds of the Commonwealth.