MANAGEMENT OF STATE TREASURY AND SINKING FUND Act of Apr. 14, 1870, P.L. 73, No. 47 Cl. 72 AN ACT Relating to management of the State Treasury and Sinking Fund. WHEREAS, The supreme court of the United States has recently made sundry decisions on the questions of interest and legal tender; therefore Section 1. Treasurer to conform to decisions of Supreme Court of United States The State Treasurer, under the direction of the commissioners of the sinking fund, is hereby authorized, in his collections and payments, to conform to the decisions by said court, or such other decisions as may from time to time be made, anything in any act of assembly to the contrary notwithstanding. 1870, April 14, P.L. 73, Sec. 1. Section 2. Purchase of state loans, etc; by commissioners The commissioners of the sinking fund are hereby authorized and required, from time to time, with the surplus moneys on hand, to purchase for redemption such amounts of the state loans and certificates of indebtedness as the condition of the sinking fund will justify, at such rates as may be to the interest of the Commonwealth, purchasing those loans which first fall due, as far as practicable; such evidence of indebtedness, when redeemed, shall be cancelled and destroyed by said commissioners, after a detailed record of the same shall have been entered on the books of the auditor general; and a report of all transactions under this section shall hereafter be included in the annual report of the Commissioners to the Legislature. 1870, April 14, P.L. 73, Sec. 2. |