Page:United States Statutes at Large Volume 63 Part 1.djvu/962

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PUBLIC LAWS-CHS. 745, 746-OCT. 26 , 1949 31 Stat. 141. 48U.S.C.§493 note; Supp II, § 508 et seq. Ante, p . 663; post, p. 926. Maturity. Ratification and confirmation. Amendment. Proceeds. October 26, 1949 [H. R. 5490] [Public Law 402] Kauai County, Ha- waii. Public improvement bonds. 31 Stat. 141 . 48U..C. 493 note; Supp. II, § 0S et seq. Ante, p. 563; post, p. 926. Maturity. Ratification and confirmation. Amendment. Proceeds. Organic Act or of any Act of this Congress to the contrary notwith- standing, may authorize the city and county of Honolulu, a muni- cipal corporation of the Territory of Hawaii, to issue general obli- gation bonds in the sum of $1,000,000 for the purpose of defraying the city and county's share of the cost of public improvements con- structed pursuant to improvement district proceedings. SEC. 2. The bonds issued under the authority of this Act shall be serial bonds, payable in substantially equal annual installments, the first installment to mature not later than five years from the date of the issue of such series and the last installment to mature not later than thirty years from the date of such issue. Such bonds may be issued without the approval of the President of the United States. SEC. 3. Act 375 of the Session Laws of Hawaii 1949, pertaining to the issuance of bonds authorized by this Act, is hereby ratified and confirmed subject to the provisions of this Act: Provided, however, That nothing herein contained shall be deemed to prohibit the amend- ment of such Territorial legislation by the Legislature of the Terri- tory of Hawaii from time to time to provide for changes in the improvement district proceedings contemplated by this Act for the disposition of unexpended moneys realized from the sale of said bonds: Provided further, That the proceeds of the bond issues hereby author- ized shall be expended only for authorized public improvements or for reduction of the debt unless otherwise approved by the Congress. Approved October 26, 1949. [CHAPTER 746] AN ACT To enable the Legislature of the Territory of Hawaii to authorize the county of Kauai, Territory of Hawaii, to issue public improvement bonds. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the Legislature of the Territory of Hawaii, any provisions of the Hawaiian Organic Act, or any laws of the Territory of Hawaii, or of any Act of this Congress to the contrary notwithstanding, may authorize the county of Kauai, Territory of Hawaii, to issue general-obligation bonds in the sum of $725,000 for the purpose of enabling it to make public improvements in that county. SEC. 2 . The bonds issued under the authority of this Act shall be serial bonds maturing in substantially equal annual installments, the first installment to mature not later than five years from the date of the issue of such series, and the last installment not later than thirty years from the date of such issue. Such bonds may be issued without approval of the President of the United States. SEC. 3 . Act 382 of the Session Laws of Hawaii, 1949, pertaining to the issuance of public improvement bonds, as authorized by this Act, is hereby ratified and confirmed subject to the provisions of this Act: Provided, however, That nothing herein contained shall be deemed to prohibit the amendment of such Territorial legislation by the Legislature of the Territory of Hawaii from time to time to pro- vide for changes in the improvements authorized by such legislation and for the disposition of unexpended moneys realized from the sale of said bonds: Providedfurther, That the proceeds of the bond issues hereby authorized shall be expended only for authorized public improvements or for reduction of the debt unless otherwise approved by the Congress. Approved October 26, 1949. 924 [63 STAT.