Bill Information

An Act amending the act of June 11, 1941 (P. L. 113, No. 54), entitled "An act authorizing cities of the first class which have issued or may hereafter issue bonds to redeem the same and issue and sell new bonds therefor," further providing for refunding bonds upon or prior to maturity, for the sale of bonds at private or public sale at less than par and in an amount necessary to refund the bonds and for tax exempt treatment of the bonds; further providing that under certain conditions the bonds not be deemed outstanding debts of such cities and providing that such a city may sell bonds or other securities at private sale; providing that the provisions hereof shall apply to all borrowings and the issuance of bonds or other securities therefor, whenever authorized; and making a repeal.