Page:United States Statutes at Large Volume 60 Part 1.djvu/436

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60 STAT.] 79TH CONG., 2D SESS.-CH. 532-JULY 1, 1946 [CHAPTER 532] AN ACT To amend sections 81, 82, and 83, and to repeal section 84 of chapter IX of the Act entitled "An Act to establish a uniform system of bankruptcy throughout the United States", approved July 1, 1898, and Acts amendatory thereof and supplementary thereto. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That sections 81, 82, and 83 of chapter IX of the Act entitled "An Act to establish a uniform system of bankruptcy throughout the United States", approved July 1, 1898, as amended (U. S. C., title 11, secs. 401, 402, and 403), are amended to read as follows: "SEC. 81. This Act and proceedings thereunder are found and declared to be within the subject of bankruptcies and, in addition to the jurisdiction otherwise exercised, courts of bankruptcy shall exercise original jurisdiction as provided in this chapter for the composition of indebtedness of, or authorized by, any of the agencies or instru- mentalities hereinafter named, payable (a) out of assessments or taxes, or both, levied against and constituting liens upon property in any of said agencies or instrumentalities, or (b) out of property acquired by foreclosure of any such assessments or taxes or both, or (c) out of income derived by such agencies or instrumentalities from any income- producing property, whether or not secured by a lien upon such property: (1) Drainage, drainage and levee, reclamation, water, irri- gation, or other similar districts, commonly designated as agricultural improvement districts or local improvement districts, organized or created for the purpose of constructing, improving, maintaining, and operating certain improvements or projects devoted chiefly to the improvement of lands therein for agricultural purposes; or (2) local improvement districts, such as sewer, paving, sanitary, or other similar districts, organized or created for the purposes designated by their respective names; or (3) local improvement districts, such as road, highway, or other similar districts, organized or created for the pur- pose of grading, paving, or otherwise improving public streets, roads, or highways; or (4) public-school districts or public-school authorities organized or created for the purpose of constructing, maintaining, and operating public schools or public-school facilities; or (5) local improvement districts, such as port, navigation, or other similar dis- tricts, organized or created for the purpose of constructing, improving, maintaining, and operating ports and port facilities; or (6) incor- porated authorities, commissions, or similar public agencies organized for the purpose of constructing, maintaining, and operating revenue- producing enterprises; or (7) any county or parish or any city, town, village, borough, township, or other municipality: Provided,however, That if any provision of this chapter, or the application thereof to any such agency or district or class thereof or to any circumstance, is held invalid, the remainder of the chapter, or the application of such provision to any other or different circumstances, shall not be affected by such holding. "SEC. 82. The following terms as used in this chapter, unless a differ- ent meaning is plainly required by the context, shall be construed as follows: "The term 'petitioner' shall include any agency or instrumentality referred to in section 81 of this chapter. "The term 'security' shall include bonds, notes, judgments, claims, and demands, liquidated or unliquidated, and other evidences of indebtedness, either secured or unsecured, and certificates of beneficial interest in property. July 1, 1946 [H. R. 6682] [Public Law 481] Bankruptcy Act of 1898, amendments. 52 Stat. 939; 50 Stat. 654. 11U.S.C.note prec. i§301-303 . Courts of bank- ruptcy. Jurisdiction for com- position of indebted- ness. Separability of pro- visions. "Petitioner." "8ecurity." 409