3140-FM-BWEW0042
1/2016
COMMONWEALTH OF PENNSYLVANIA
DEPARTMENT OF ENVIRONMENTAL PROTECTION
BUREAU OF WATERWAYS ENGINEERING AND WETLANDS
GUIDELINES FOR SUBMISSION OF NEGOTIABLE GOVERNMENT SECURITIES
Negotiable government securities acceptable for submission with a collateral bond fall into two (2) categories:
(A)
(B)
Bearer Instruments, payable to bearer; and
Registered (non-bearer) instruments, payable to a certain named person
These guidelines apply to both categories of instruments, unless otherwise noted.
I.
Negotiable instruments of the following government issuers which are acceptable to the Department:
(A)
(B)
(C)
(D)
(E)
(F)
the United States of America (Zero Coupon and U.S. Treasury Strip are unacceptable)
the Commonwealth of Pennsylvania
the Pennsylvania Turnpike Commission
the General State Authority (Pennsylvania)
the State Public School Building Authority (Pennsylvania)
any Commonwealth Municipality
II.
The trustee bank shall machine authenticate the dollar amount of the negotiable instrument on the front of the
instrument.
III.
Registered negotiable instruments must be payable in the name of the permittee, and not in the names of third
parties.
IV.
Negotiable instruments payable to "bearer" may be assigned to the Commonwealth merely by delivery. As for
registered negotiable instruments, the assignment by the permittee shall be completed and signed on the back of
registered negotiable instrument in substantially the following manner:
"FOR VALUE RECEIVED, the undersigned hereby sells, assigns, and
transfers unto the Commonwealth, Department of Environmental
Protection the within bond and all rights thereunder, and hereby
irrevocably constitutes and appoints the State Treasurer attorney to
transfer the said bond on the books of the within named Trustee.
Dated
(Seal)
"
SPECIAL INSTRUCTIONS FOR COMPLETING ASSIGNMENT OF REGISTERED NEGOTIABLE INSTRUMENT
(A)
The assignment should be executed as indicated by the operator.
(i)
(B)
(C)
V.
For a corporation, the corporate name should be indicated and execution by either the President or
Vice President and the Secretary or Treasurer should be obtained;
(ii)
For a partnership, the partnership name should be indicated, and execution by all partners should be
obtained.
The execution must be dated.
All signatures on the assignment must be certified as to their authenticity prior to submission to the
Commonwealth, such certification is usually done by stamp of the operator's local bank.
A permit will not be issued until the negotiable instrument and Collateral Bond have been reviewed and approved as
to legality and form.