Pennsylvania Act 1937-332 — VALIDATING ACT OF 1937 (PUBLIC WORKS BONDS)

Act text

VALIDATING ACT OF 1937 (PUBLIC WORKS BONDS)
                 Act of Jun. 4, 1937, P.L. 1621, No. 332              Cl. 53
                                  AN ACT

     Validating, ratifying, approving and confirming bonds and other
        instruments or obligations heretofore issued by counties,
        cities, boroughs, towns, townships, school districts, poor
        districts and other incorporated districts of this
        Commonwealth, for public work projects.

        Section 1.  Be it enacted, &c., That this act shall be known,
     and may be cited, as "The Validating Act of one thousand nine
     hundred thirty-seven."
        Section 2.  The following terms, wherever used or referred to
     in this act, shall have the following meanings:
        (a)  The term "Bonds" includes bonds, notes, warrants,
     debentures, certificates of indebtedness, temporary bonds,
     temporary notes, interim receipts, interim certificates, and all
     instruments or obligations evidencing or representing
     indebtedness, or evidencing or representing the borrowing of
     money, or evidencing or representing a charge, lien or
     encumbrance on specific revenues, income, or property of a
     public body, including all instruments or obligations payable
     from a special fund.
        (b)  The term "Public Body" means any authority, county,
     city, borough, incorporated town, township, school district,
     poor district or other incorporated district of the
     Commonwealth.
        Section 3.  All bonds heretofore issued for the purpose of
     financing, or aiding in the financing, of any work, undertaking
     or project, by any public body to which any loan or grant has
     heretofore been made by the United States of America, through
     the Federal Emergency Administrator of Public Works, for the
     purpose of financing or aiding in the financing of such work,
     undertaking or project, including all proceedings for the
     authorization and issuance of such bonds, and the sale,
     execution and delivery thereof, are hereby validated, ratified,
     approved and confirmed, notwithstanding any lack of power (other
     than constitutional) of such public body or the governing board
     or commission or officers thereof, to authorize and issue such
     bonds or to sell, execute or deliver the same, and
     notwithstanding any defects or irregularities (other than
     constitutional) in such proceedings, or in such sale, execution
     or delivery; and such bonds are, and shall be, binding, legal,
     valid and enforceable obligations of such public body.
        Section 4.  This act shall become effective immediately upon
     its final enactment.