OS X 10.10 Yosemite update breaks PHP in Apache localhost

Unfortunately the recent system upgrade overwrites all your local web server installation. As the Apache versionnow  also increased to 2.4 in Yosemite, it is  not a good idea to get your former http.conf from the backup.
computersnyou.com nicely explains the repair procedure but this still did not work for me as there is another configuration change necessary.

# needs to be uncommented
LoadModule php5_module libexec/apache2/libphp5.so
# needs to be added
<IfModule mime_module>
  AddType application/x-httpd-php .php

I am still struggling with the GD graphics library. It looks enabled from phpinfo() while ferrotype functions like imagettftext() are still not working. But there is a solution at stack overflow

curl -s http://php-osx.liip.ch/install.sh | bash -s 5.6