An Act Providing for a Loan of Twenty-Five Thousand Pesos, Philippine Currency, to the Province of Cebu

August 14, 1905

ACT NO. 1380

AN ACT PROVIDING FOR A LOAN OF TWENTY-FIVE THOUSAND PESOS, PHILIPPINE CURRENCY, TO THE PROVINCE OF CEBU

SECTION 1. There is hereby appropriated, out of any funds in the Insular Treasury not otherwise appropriated, the sum of twenty-five thousand pesos, Philippine currency, to be loaned to the Province of Cebu and to be used by the provincial board of said province in making loans to municipalities thereof for expenditure on public works. Said amount shall be paid to the provincial treasurer of Cebu upon the production by him to the Insular Treasurer of a certified copy of a resolution of the provincial board of Cebu accepting such loan and agreeing to repay the same, without interest, in five years from the date of the acceptance of said loan.

SECTION 2. 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 3. This Act shall take effect on its passage.

ENACTED, August 14, 1905.