Art. IX. The expenses of remittance and other expenses of the operation shall be levied on the amount of the loan.
The Commissioners of the Treasury of the Debt shall deduct from the proceeds of the Guaranteed Loan the sum necessary to complete the payment of the Alexandria indemnities, and shall pay those indemnities to the claimants on behalf of our Government according to the awards made by the International Indemnity Commission.
The indemnities shall be paid in full and without arrears of interest. The surplus of the loan shall be paid over by the Commissioners of the Treasury to our Minister of Finance as required.
The portion of the loan remaining after deduction of the amount of the indemnities shall, together with the funds placed at the disposal of our Minister of Finance by Article 24 of the present Law, be assigned to the following charges:—
| £E. | |||||||
| Making good the deficit of the year 1844 and of previous years | 2,657,000 | ||||||
| Deficit for 1885, estimated at | ... | ... | ... | ... | 1,200,000 | ||
| Irrigation works | ... | ... | ... | ... | ... | ... | 1,000,000 |
| Commutation of pensions | ... | ... | ... | ... | ... | 550,000 | |
| Funds reserved for the service of the Treasury | ... | ... | 500,000 | ||||
| Total | ... | ... | ... | ... | 5,907,000 | ||
Art. X. Any unemployed balance after provision has been made for the charges indicated above shall be applied, according to the conditions enumerated in Article 5 of the present Law, to the purchase of securities which shall be cancelled.
Art. XI. The Commissioners of the Treasury of the Public Debt shall furnish us at the end of each half-year with a Report showing, according to the vouchers which will be given to them, the manner in which the proceeds of the Guaranteed Loan have been employed. This Report will be published in the 'Journal Officiel.'
Art. XII. A tax of 5 per cent. is established on the amount of the coupons of the Preference and Unified debts[1]. This tax, however, shall only be levied on the amount of the half-yearly payments falling due in 1885 and in 1886. Certificates
- ↑ In contravention of Art. 21 of the Law of Liquidation, supra, p. 174.
