Amending Section 1 of Act No. 1728

December 29, 1914

ACT NO. 2437

AN ACT TO AMEND SECTION ONE OF ACT NUMBERED SEVENTEEN HUNDRED AND TWENTY-EIGHT, ENTITLED "AN ACT TO PROVIDE FOR INSURANCE OF THE INSULAR, PROVINCIAL, AND MUNICIPAL GOVERNMENTS AGAINST LOSS FROM DAMAGE OR DESTRUCTION OF GOVERNMENT VESSELS AND CRAFT, GOVERNMENT MACHINERY, AND PERMANENT PUBLIC BUILDINGS AND GOVERNMENT PROPERTY THEREIN, BY EARTHQUAKE, FIRE, LIGHTNING, FLOOD, TYPHOON, TORNADO, HURRICANE, OR CYCLONE," BY REDUCING THE APPROPRIATION FOR CARRYING OUT THE PURPOSE OF SAID ACT, AND FOR OTHER PURPOSES

SECTION 1. Section one of Act Numbered Seventeen hundred and twenty-eight as amended by section one of Act Numbered Twenty-one hundred and forty, is hereby further amended to read as follows:

"SECTION 1. There is hereby created an appropriation which shall be termed the insurance fund, the purpose of which shall be to provide, so far as possible, the means of replacing or repairing Government vessels and craft, Government machinery, permanent public buildings, Government property therein, and Government property in rented buildings, which shall have been damaged or destroyed by earthquake, fire, lightning, flood, typhoon, tornado, hurricane, or cyclone. There shall be deposited to the credit of this appropriation from general funds of the Insular Treasury not otherwise appropriated the sum of one hundred and fifty thousand pesos as of date of the passage of this Act; and the interest thereon and on any additions to such fund by virtue of this Act and other earnings and receipts of the insurance fund shall be placed to its credit as they may be received. When, in the discretion of the Governor-General, he shall certify that the public interest so demands, there shall be paid from this appropriation by the Insular Treasurer such sums as may be determined by the Insular Auditor to be due any branch of the Government entitled to the benefits of this Act on account of loss or damage caused to Government vessels or craft, to Government machinery, to any permanent public building or Government property therein, or to Government property in any rented building, by earthquake, fire, lightning, flood, typhoon, tornado, hurricane, or cyclone, and also other expenses necessarily incurred in carrying out the purposes of this Act: Provided, That funds paid on account of losses may be used for no other purpose than to restore by construction, repair, purchase, or otherwise, the property damaged or destroyed, and it shall be the duty of the Insular Auditor to enforce this provision: And provided further, That no payment shall be made from these funds to increase the compensation of any Government official or employee: And provided further, That in case the total claims payable from the fund shall at any time exceed the capital, surplus, and reserves pertaining thereto, the amount necessary to cover such deficit shall be advanced from the general surplus of the Insular Government until such time as the overdraft shall have been offset by the future net earnings of the fund."

SECTION 2. This Act shall take effect on its passage.

Enacted, December 29, 1914.