[ Act No. 1635, April 26, 1907 ]
AN ACT TO AMEND ACT NUMBERED FOURTEEN HUNDRED AND EIGHTEEN, PROVIDING FOR A LOAN OF THIRTY-FIVE THOUSAND PESOS TO THE PROVINCE OF ALBAY, BY INCREASING THE AMOUNT OF SAID LOAN TO SIXTY THOUSAND PESOS AND EXTENDING THE TIME OF REPAYMENT THEREOF.
By authority of the United States, be it enacted by the Philippine Commission, that:
Section 1. Act Numbered Fourteen hundred and eighteen, entitled "An Art providing for a loan of thirty-five thousand pesos to the Province of Albay," is hereby amended as follows:
(a) "By striking out section one of said Act and inserting in lieu thereof the following:
"Section 1. There is hereby appropriated, out of any funds in the Insular Treasury not otherwise appropriated, the sum of sixty thousand pesos, to be loaned to the Province of Albay and to be expended by the provincial board of that province in altering, repairing, and making additions to the building at present occupied by the provincial government for the use of the provincial offices and Court of First Instance, such alterations, repairs, and additions to lie made in accordance with plans and specifications approved by the Tnsular Architect."
(b) By striking out section two of said Act and inserting in lieu thereof the following:
"Section 2. The money appropriated by section one hereof shall be paid to the treasurer of the Province of Albay upon the production by him to the Treasurer of the Philippine Islands of a certified copy of a resolution by the provincial board of said province accepting said loan and agreeing to repay the same without interest in six installments, ten thousand pesos on or before January first, nineteen hundred and eight, and ten thousand pesos each year thereafter until the total amount of said loan has been repaid."
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.ℒαwρhi৷
Section 3. This Act shall take effect on its passage.
Enacted, April 26, 1907.
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