Section 2
SEC. 2. Before making any such loan the Postal Savings Bank Investment Board shall require a resolution of the provincial board of the province to which the loan is to be made, requesting the loan, stating that the same will be used solely for certain public improvements specified therein, agreeing to repay the amount loaned within a certain period with interest at a rate to be stated in said resolution, and requesting the Insular Government to guarantee the repayment in full of said loan and interest. Said resolution shall further provide that the Insular Government may, from time to time, in consideration of its guaranty, deduct from any funds in the Insular Treasury belonging to the province sufficient sums to pay the interest and principal as the same may become due.