An Act Providing for a Loan of Seven Thousand Five Hundred Dollars, United States Currency, to the Province of Capiz

July 23, 1903

ACT NO. 805

AN ACT PROVIDING FOR A LOAN OF SEVEN THOUSAND FIVE HUNDRED DOLLARS, UNITED STATES CURRENCY, TO THE PROVINCE OF CAPIZ

SECTION 1. There is hereby appropriated, out of any funds in the Insular Treasury not otherwise appropriated, the sum of seven thousand five hundred dollars, United States currency, or its equivalent in Philippines currency, in the discretion of the Insular Treasurer, to be loaned to the Province of Capiz, and to be expended by the provincial board of that province for the general purposes of the provincial government.

SECTION 2. The money appropriated in the first section of this Act shall be paid to the supervisor-treasurer of the Province of Capiz upon the production by him to the Treasurer of the Philippine Archipelago of a certified copy of a resolution of the provincial board of the Province of Capiz accepting such loan and agreeing to repay the same, without interest, in three annual payments, one-third, on or before one year from the date of acceptance of the loan, one-third on or before two years from said date, and one-third on or before three years from the date of such acceptance.

SECTION 3. The public good requiring the speedy enactment of this bill, the passage of the same is hereby expedited in accordance with section two of "An Act prescribing the order of procedure by the Commission in the enactment of laws," passed September twenty-sixth, nineteen hundred.

SECTION 4. This Act shall take effect on its passage.

ENACTED, July 23, 1903.