Authority to Secretary of War to Cancel and Destroy Certain Bonds of the Philippine Government
Act No. 3383, enacted on December 3, 1927, authorizes the Secretary of War to cancel and destroy specific bonds issued by the Philippine Government under previous acts. The bonds in question include $9.7 million from Act No. 3313 and $500,000 from Act No. 3358, as the intended purposes of these bonds have already been fulfilled through prior sales. The Act stipulates that the serial numbers and amounts of the canceled bonds must be reported to the Auditor and Treasurer of the Philippine Islands. This legislation aims to streamline government financial obligations by eliminating unnecessary bond issuances.
Law Information
- Reference Number
- Act No. 3383
- Date Enacted
- Category
- Statutes
- Subcategory
- Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
December 3, 1927
ACT NO. 3383
AN ACT AUTHORIZING AND REQUESTING THE SECRETARY OF WAR TO CANCEL AND DESTROY CERTAIN BONDS OF THE PHILIPPINE GOVERNMENT ISSUED UNDER THE PROVISIONS OF ACTS NUMBERED THIRTY HUNDRED AND THIRTEEN AND THIRTY HUNDRED AND FIFTY-EIGHT
WHEREAS, Act Numbered Thirty hundred and thirteen provided for the issue and sale, by the Secretary of War, of bonds of the Philippine Government in the total sum of twenty-one million five hundred thousand dollars, and the purposes of said Act have been fully accomplished by the sale of bonds in the total sum of eleven million eight hundred thousand dollars; and
WHEREAS, Act Numbered Thirty hundred and fifty-eight provided for the issue and sale, by the Secretary of War, of bonds of the Philippine Government in the total sum of twenty-three million five hundred thousand dollars, and the purposes of said Act have been fully accomplished by the sale of bonds in the total sum of twenty-three million dollars; and
WHEREAS, there is no necessity for the sale of further bonds under said Acts; Therefore,
SECTION 1. The Secretary of War is hereby authorized and requested to cancel and destroy bonds of the Philippine Government in the sum of nine million seven hundred thousand dollars issued under Act Numbered Thirty hundred and thirteen, and bonds in the sum of five hundred thousand dollars issued under Act Numbered Thirty hundred and fifty-eight.
SECTION 2. The serial numbers and corresponding amounts of all bonds cancelled and destroyed under authority of the preceding section shall be reported to the Auditor and the Treasurer for the Philippine Islands.
SECTION 3. This Act shall take effect upon its approval.
Approved, December 3, 1927.
Cite This Law
Authority to Secretary of War to Cancel and Destroy Certain Bonds of the Philippine Government, Act No. 3383, Dec 3, 1927 (Philippines)
Authority to Secretary of War to Cancel and Destroy Certain Bonds of the Philippine Government, Act No. 3383 (Phil. 1927)
Related Laws
- Authority to Leyte to Issue BondsAct No. 3481 • Dec 7, 1928 • Statutes
- Authority to Province of Camarines Sur to Issue BondsAct No. 3280 • Nov 30, 1926 • Statutes
- Authority to Governor-General to Sell Bonds of the Government of the Philippine IslandsAct No. 3711 • Nov 20, 1930 • Statutes
- Authority to Province of Ilocos Norte to Issue BondsAct No. 3266 • Dec 7, 1925 • Statutes
- An Act to Provide for the Issue of Bonds In Lieu of Destroyed or Defaced Bonds of the Government of the Philippine Islands Under Certain ConditionsAct No. 2459 • Feb 3, 1915 • Statutes
- An Act Granting Authority to the Province of Iloilo and Certain Municipalities thereof to Issue Bonds for the Purpose of Providing Funds for Permanent Public Improvements, and Authorizing the Issue of Bonds of the Insular Government Secured by Bonds of Said Province and Municipalities, and for Other PurposesAct No. 3222 • Sep 16, 1925 • Statutes
Browse More Statutes
Explore other laws in the Statutes category.
View All StatutesNeed Help Understanding This Law?
Ask our AI assistant to explain provisions, implications, or related laws.
Ask AI About This Law