[ Act No. 997, November 17, 1903 ]

AN ACT AUTHORIZING A LOAN OF FIVE THOUSAND AND EIGHTY-FIVE PESOS, PHILIPPINE CURRENCY, TO THE PROVINCE OF TAYABAS, FOR THE BENEFIT OF THE PUBLIC SCHOOLS OF THE ISLAND OF MARINDUQUE, AND AUTHORIZING A LOAN OF EIGHT THOUSAND PESOS, PHILIPPINE CURRENCY, TO THE MUNICIPALITY OF SARIAYA, PROVINCE OF TAYABAS, TO ENABLE THE MUNICIPALITY TO COMPLETE ITS PUBLIC-SCHOOL BUILDING.

By authority of the United States, be it enacted by the Philippine Commission, that:SECTION 1. The Treasurer of the Philippine Islands is hereby authorized to loan, out of any funds in the Insular Treasury not otherwise appropriated, the sum of five thousand and eighty-five pesos, Philippine currency, to the Province of Tayabas for the benefit of the public schools of the Island of Marinduque, and the same is hereby appropriated to be expended by the provincial board of Tayabas, for the payment of the native teachers of the public schools of the island and such other lawful expenses as may be recommended by the division superintendent of schools and approved by the board. The amount so loaned shall be returned to the Insular Treasury from the treasury of the Province of Tayabas on or before the first, day of January, nineteen hundred and nine, without interest: Provided, That not less than one thousand pesos, Philippine currency, shall be returned on or before the first day of January, nineteen hundred and five, and not less than one thousand pesos. Philippine currency, each year thereafter until the loan is paid in full.SEC. 2. The Treasurer of the Philippine Islands is also hereby authorized to loan, out of any funds in the Insular Treasury not otherwise appropriated, the sum of eight thousand pesos, Philippine currency, to the municipality of Sariaya, Province of Tayabas, in order to enable said municipality to complete the construction of its public-school building, and the same is hereby appropriated for that purpose. The money so appropriated shall be withdrawn from the Insular Treasury by settlement warrant payable to the treasurer of the Province of Tayabas, to be by him transferred, like other municipal funds, to the municipality of Sariaya, and shall be returned without interest, through the provincial board of Tayabas, to the Insular Treasury, as follows: "Not less than two thousand pesos, Philippine currency, on or before January first, nineteen hundred and five, and not less than two thousand pesos, Philippine currency, each year thereafter until the loan is paid.SEC. 3. 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.SEC. 4. This Act shall take effect on its passage.Enacted, November 17, 1903.

Source: Supreme Court E-Library