An Act Providing for a Loan of Twenty Thousand Pesos to the Province of Sorsogon for the Completion of the Provincial High School Building of Said Province

October 30, 1906

ACT NO. 1554

AN ACT PROVIDING FOR A LOAN OF TWENTY THOUSAND PESOS TO THE PROVINCE OF SORSOGON FOR THE COMPLETION OF THE PROVINCIAL HIGH SCHOOL BUILDING OF SAID PROVINCE

SECTION 1. There is hereby appropriated, out of any funds in the Insular Treasury not otherwise appropriated, the sum of twenty thousand pesos, to be loaned to the Province of Sorsogon.

SECTION 2. The money appropriated in section one of this Act shall be paid to the treasurer of the Province of Sorsogon upon the production and delivery by him to the Insular Treasurer of a certified copy of a resolution of the provincial board of the Province of Sorsogon accepting the loan hereinbefore authorized and agreeing to repay the same, without interest, in annual installments of one-half of the total amount, the first installment to be paid on or before December thirty-first, nineteen hundred and seven.

SECTION 3. The money hereby appropriated shall be used in the completion of the provincial high school building of the Province of Sorsogon, and for no other purpose, and shall be expended under the direction of the provincial board of said province.

SECTION 4. 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 5. This Act shall take effect on its passage.

ENACTED, October 30, 1906.