2012 Pennsylvania Consolidated Statutes
Title 35 - HEALTH AND SAFETY
Chapter 73 - Commonwealth Services
Section 7369 - Sale of bonds

     § 7369.  Sale of bonds.
        (a)  General rule.--Bonds shall be offered for sale at not
     less than 98% of the principal amount and accrued interest and
     shall be sold by the Governor, the 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
     advertisement and the times of advertising shall be prescribed
     by the Governor, the Auditor General and the 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, the Auditor General and the 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 other general obligation bonds of the
     Commonwealth.