Section 3
SEC. 3. The unpaid balance of fifty thousand pesos ow the Province of Iloilo to the Government of the Philippine on the loan made to said province under Act Numbered One hundred and ninety-six, is hereby canceled, on condition that government of said province shall provide and pay into the p school fund of Iloilo, to be expended only for the purpose after set forth, an amount: at least equal to the indebtedness canceled, of which at least eight thousand three hundred ant thirty-three pesos and thirty-three centavos shall be made available for expenditure in accordance with the terms of this Act on or before the thirtieth day of November, nineteen hundred and seven, of which a sum at least equal to the above shall be made available on or before the thirtieth day of November of each year thereafter, until the entire amount of fifty thousand pesos shall have been provided and paid into said school fund, as herein prescribed.