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1997 SESSION

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SB 733 Public debt of the Commonwealth.

Introduced by: Edward L. Schrock | all patrons    ...    notes | add to my profiles

SUMMARY:

Public debt of the Commonwealth. Repeals requirements imposed upon the State Treasurer and the State Comptroller that are now the responsibility of registrars and paying agents. The measure strikes provisions relating to (i) the issuance of bearer bonds, which are no longer issued; (ii) forged or counterfeit bonds; and (iii) the Sinking Fund. The owner of lost bonds and certificates is no longer required to prove that he advertised the loss for four weeks in a newspaper before obtaining replacements. The measure also repeals obsolete provisions relating to the funding of bonds of the Chesapeake and Ohio Canal Company issued in 1847 and 1849.


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