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Act No. 1954 Section 6

Act No. 1954 Section 6

Section 6

SEC. 6. Commencing with the ending June thirtieth, nineteen hundred and eleven, and each succeeding year thereafter until said bonds shall been paid, there is hereby made a continuing annual appropriation, authorized to be paid out of any funds in the Insular Treasury not otherwise appropriated, of nineteen thousand four hundred dollars, gold coin of the United States of the present standard value, for each one million dollars, and proportionally for each fraction thereof, of bonds issued in accordance with this Act. Said sum so appropriated and the interest thereon shall be invested by the Insular Treasurer in such manner as may be approved by the Governor-General, and shall constitute a sinking fund for the payment of said bonds: Provided, however, That whenever in the judgment of the Governor-General the public interests so require he may by order suspend for a term of not to exceed three years all accretions to said sinking fund and the appropriations hereby made therefor: And provided further, That whenever in the judgment of the Governor-General the public interests so require he may by order suspend for a term of three years all accretions to the sinking funds heretofore created for the. retirement of the bonds issued by virtue of Acts Numbered Thirteen hundred and one, Fourteen hundred and forty-four, or One thousand and thirty-four, except, however, that such order shall not suspend accretions to the sinking fund for the retirement of the bonds issued under said last mentioned Act as are required to be made by section twenty-three of Act Numbered Eleven hundred and twenty or by any Act of the Congress of the United States of America.

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Other provisions in Act No. 1954

Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗ · Data as of July 4, 2026

CitationAct No. 1954 Section 6 (LawPlayer, data as of July 4, 2026)

Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).

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