[ Act No. 1728, September 27, 1907 ]
AN ACT TO PROVIDE FOR INSURANCE OF THE INSULAR, PROVINCIAL, AND MUNICIPAL GOVERNMENTS AGAINST LOSS FROM DAMAGE OR DESTRUCTION OF GOVERNMENT VESSELS AND CRAFT, GOVERNMENT MACHINERY, AND PERMANENT PUBLIC BUILDINGS AND GOVERNMENT PROPERTY THEREIN, BY EARTHQUAKE, FIRE, LIGHTNING, FLOOD, TYPHOON, TORNADO, HURRICANE, OR CYCLONE.
By authority of the United States, be it enacted by the Philippine Commission, that:
Section 1. There is hereby created an appropriation which shall be termed "the insurance fund," the purpose of which shall be to provide, so far as possible, the means of replacing or repairing Government: vessels and craft, Government machinery, permanent public buildings and Government property therein which shall have been damaged or destroyed by earthquake, fire, lightning, flood, typhoon, tornado, hurricane, or cyclone. There shall be deposited to the credit of this appropriation from general funds of the Insular Treasury not otherwise appropriated the sum of two hundred and fifty thousand pesos, as of date of the passage of this Act; and the interest thereon and on any additions to such fund by virtue of this Act and other earnings and receipts of "the insurance fund"' shall be placed to its credit as they may be received. When, in the discretion of the Governor-General, he shall certify that the public interest so demands, there shall be paid from this appropriation by the Insular Treasurer such sums as may be determined by the Insular Auditor to be due any branch of the Government entitled to the benefits of this Act on account of loss or damage caused to Government vessels or craft, Government machinery or to any permanent public building or Government property therein by earthquake, fire, lightning, flood, typhoon, tornado, hurricane, or cyclone, and also other expenses necessarily incurred in carrying out the purposes of this Act: Provided, That funds paid on account of losses may be used for no other purpose than to restore by construction, repair, purchase, or otherwise, the property damaged or destroyed, and it shall he the duty of the Insular Auditor to enforce this provision: And provided further, That no payment shall be made from these funds to increase the compensation of any Government official or employee.
Section 2. The Governor-General may, upon application by a provincial board or municipal council, or the Municipal Board of the city of Manila, grant insurance under this Act to any province or municipality in those Islands, including the city of Manila, at rates to be fixed by the insular Auditor, with the approval of the Governor-General, and the Insular Treasurer shall collect the premiums on such insurance.
Section 3. It shall lie the duty of the Insular Treasurer, with the approval of the Governor-General, to prepare and promulgate the necessary regulations to carry out the purposes of this Act.ℒαwρhi৷ The Governor-General is hereby authorized to provide the necessary additional personnel by designating officials and employees regularly employed in the Government service, whose duty it shall be to perform such services as may he required of them in this connection without additional compensation.
Section 4. The funds pertaining to this appropriation shall be available for investment, in the discretion of the Governor-General, by deposit at interest with qualified depositaries of Government moneys, and for loans for periods not exceeding two years in any instance to provincial and municipal governments for the construction of public works of a permanent character, and for investment in such loans and securities as are authorized for the Postal Savings Bank by existing laws: Provided, That the rates of interest on all loans from "the insurance fund" shall be fixed by the Governor-General.
Section 5. In addition to the appropriation of two hundred and fifty thousand pesos made in section one hereof, there is also hereby made a permanent, continuing appropriation of fifty thousand pesos per annum, until such time as "the insurance fund" shall amount to five hundred thousand pesos, and thereafter a permanent, continuing appropriation of such sum or sums as may be necessary to maintain the said fund at five hundred thousand pesos: Provided, however, That the said appropriation shall not in any one year exceed fifty thousand pesos.
Section 6. 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 7. This Act shall take effect on its passage.
Enacted, September 27, 1907.
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