Section 1
SECTION 1. There is hereby appropriated, out of the proceeds of the sale of bonds under the provisions of Act Numbered Twenty-nine hundred and forty, the sum of twenty million pesos, or such sum as said sales may produce, for the construction of irrigation systems in the Philippine Islands. The sums so appropriated shall be allotted by the Secretary of Commerce and Communications and disbursed in accordance with the provisions of Act Numbered Twenty-one hundred and fifty-two: Provided, however, That the annual charge imposed upon each hectare of land to cover the cost of construction shall be computed, in the case of projects the construction of which is authorized after the date of the approval of this Act, on the basis of the total cost of construction, with interest at the rate of six per centum per annum, during a period of twenty years.