Section 1
SECTION 1. The sum of three million five hundred thousand pesos is hereby appropriated, out of any funds in the Insular Treasury not otherwise appropriated, to form a special fund which shall be denominated "Loan Fund." This fund shall constitute a reimbursable account and shall, together with its future accretions derived from its operating income and subsequent appropriations, be invested in loans to provinces, municipalities, and chartered cities at a rate of interest not to exceed four per centum per annum, for the construction or acquisition of permanent public improvements and for the payment of the provincial or municipal share of the cost of duly authorized cadastral surveys.