Page:United States Statutes at Large Volume 39 Part 1.djvu/460

SIXTY-FOURTH coivennss. sm. 1. ou. 275. 1916. 439 Sec. 4. That section eight is hereby amended by strikin out the *’“"“° utility ***8*6- second parralgpaph in said section relating to a pubhe utilitygboard. Sec. 5. at section twelve of said Act is hereby amended by §,;=¤iQ°¤¤¤¤¤i¤¤ striking out the words " chapter sixty-four of the Revised Laws of an or y' Hawan," in hues ten and eleven thereof, and insertin in lieu thereof the words " chip-tpter fifty-two of the Revised Laws of I·Tawaii, nineteen hundred and teen." Sec. 6. That section fifteen of said Act is hereby amended so that the same shall read as follows: "Sec. 15. That the rights, privileges, and franchises hereby I¤d°“¤“°¤*‘¤¤°· granted to the association shall continue dining the pleasure of the Legislature of the Territory of Hawaii with the approval of the Congress of the United Statw, subject only to the limitations in this Act contained.” Sec. 7. That section sixteen of said Act is hereby amended so that the game shallppead as follows: f kmd d " no. 16. at a pro erty o every an nature forming or '*`°¤ °*°¤*P“°¤ ‘°* used as a pgrt of the railliiva and power system of the association, m mm including t `s franchise, shag be exempt from any and all taxation under the laws of the Territory of Hawaii until the expiration of ten years from and after the passage of this amendatory Act." Sec. 8. That section seventeen of this Act is hereby amended as follows: Strike out all after paragraph two and insert in lieu thereof the following: "The association shall pafy to the county of Hawaii, within one cg’g*;¤°¤*Ij:mH¤w¤¤ month after the expiration 0 each year, two and one-half per centum receipts? mss of the gross receipts derived from transportation during the preceding calendar year. "No member of the association, or of any assignee or successor of h£F,§’°}‘¤l}‘§£{‘,,‘§°§°{,‘Z the same, and no stockholder or officer of any corporation securing *¤*°*$- any or all of the rights herein granted to the association shall become interested, directly or indirect y, in any contract made by the association, its assignees or successors, for the construction of any part of the railway or for the supply of its rolling stock." Sec. 9. That section nineteen of said Act is hereby amended so that the same shall read as follows: "Sec. 19. The Territory of Hawaii, the county of Hawaii, or any ,,,§`y‘f'§@?f§,,lg§h2`§;{;; pplitical subdivision thereof, within or including the district of Sout >‘<¤¤S, ¤¤¤¤¤¢¢¤<1~ ilo, ma at any time after the expjration of twenty years from the date of tllfe passage of this Act by the Congress of the United States, and upon six months’ notice in writing to the association, given pursuant to proper authority, when so authorized by the Legislature of the Territory of Hawaii, ac uire by purchase all the property of the association, subject to the flien existing charges thereon. _ _ I. "The amount to be paid to the association or such purchase shall ,,,,?,,{'g§,‘1f'§§;{"“°'°“ ° be determined by a commission of three persons, one_to_be appointed by the association, or, in case it should fail to do so within thirty days a ter having been requested to do so pty the purchaser, then y the chief `ustice of the supreme court of awan, one by the purchaser, and the third by the two so appointed; or, in case they should fa.il_to agree upon the third member within thirty days, then by said chief justice, any such action by the chief justice to be taken only after giving to each party notice and an opportunity to be heard; but such amount shall in no case exceed the actual cost or the actual value of — the ta `ble property or the actual cost of reproducing or replacmg it, lessnglepreciation and less the charges thereon. The value of the francl1iise(pr good will or apy other intanlg;b1e_(eilement shall not be consi ere in determ1nmg` the amount to pai . ‘ ‘ Either the association or the purchaser may appeal to the Supreme M °°°"°°° court of Hawaii from the decision of such commission by filing a written notice of appeal with the commission within five ays after the