63 STAT.] 81ST CONG. , 1ST SESS.-CHS. 754, 755-OCT. 26, 1949
and empowered to issue, any provision of the Hawaiian Organic Act
or any other Act of Congress to the contrary notwithstanding, public-
improvement bonds in such amounts as will not cause the total indebt-
edness of such Territory to exceed $50,000,000. Any extension of the
total indebtedness of such Territory beyond $50,000,000 shall be made
solely in conformity with the Hawaiian Organic Act.
SEC. 2. All bonds issued pursuant to section 1 shall be serial bonds
payable in substantially equal annual installments, with the first such
installment maturing not later than five years from the date of issue
and the last such installment maturing not later than thirty years
from such date.
SEC. 3. Bonds shall not be issued pursuant to section 1 without the
approval of the President of the United States.
SEC. 4. Act Numbered 401 of the Session Laws of 1949 of the Terri-
tory of Hawaii entitled "An Act relating to public improvements, and
the financing thereof, making appropriations for public improvements,
providing for the issuance of public-improvement bonds and memo-
rializing Congress to authorize the issuance of public-improvement
bonds of the Territory of Hawaii during the years 1949 to 1955,
inclusive, without respect to the limitation imposed by the Hawaiian
Organic Act, and amending Act 205 of the Session Laws of Hawaii
1947", to the extent approved by the Governor of the Territory of
Hawaii on May 27, 1949, is hereby confirmed and ratified: Provided,
however, That nothing herein contained shall be deemed to prohibit the
amendment of said Act of said Territory by the legislature thereof,
from time to time, to provide for changes in the improvements author-
ized by said Act and for the disposition of unexpended moneys appro-
priated by said Act: 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.
[CHAPTER 755]
AN ACT
To further the policy enunciated in the Historic Sites Act (49 Stat. 666) and to
facilitate public participation in the preservation of sites, buildings, and objects
of national significance or interest and providing a national trust for historic
preservation.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled, That, in order to
further the policy enunciated in the Act of August 21, 1935 (49 Stat.
666), entitled "An Act to provide for the preservation of historic
American sites, buildings, objects, and antiquities of national sig-
nificance, and for other purposes", and to facilitate public participa-
tion in the preservation of sites, buildings, and objects of national
significance or interest, there is hereby created a charitable, educa-
tional, and nonprofit corporation, to be known as the National Trust
for Historic Preservation in the United States, hereafter referred
to as the "National Trust".
The purposes of the National Trust shall
be to receive donations of sites, buildings, and objects significant in
American history and culture, to preserve and administer them for
public benefit, to accept, hold, and administer gifts of money, securi-
ties, or other property of whatsoever character for the purpose of
carrying out the preservation program, and to execute such other
functions as are vested in it by this Act.
SEO. 2. The National Trust shall have its principal office in the
District of Columbia and shall be deemed, for purposes of venue in
927
31 Stat. 141.
48U.S.C.§493
note; Supp. II , § 508
et seq.
Ante, pp. 563, 926.
Maturity.
Approval of Presi-
dent ofU.S.
Confirmation and
ratification.
31 Stat. 141 .
48U. .C.c
493
note; Supp. II, 1 508
et seq.
Ante, pp. 563, 926.
Amendment.
Proceeds.
October 26, 1949
[H. R. 5170]
[Public Law 408]
National Trust for
Historic Preservation
InU.S.
16 U.
.
C..
461-
467.
Purposes.
Principal office.
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