Section 1
SECTION 1. Pursuant to the provisions of section eleven of the Act of Congress approved August twenty-ninth, nineteen hundred and sixteen, entitled "An Act to declare the purpose of the people of the United States as to the future political status of the people of the Philippine Islands, and to provide a more autonomous government for those Islands," as amended by the Act of Congress approved May thirty-first, nineteen hundred and twenty-two, the Province of Leyte and certain municipalities thereof, hereinafter named, are hereby authorized to negotiate a loan to be used for the construction of permanent improvements, in the sums hereinafter set forth: Province of Leyte, for waterworks and for reimbursement of insular loan, six hundred and eighty thousand pesos; municipality of Tacloban, for waterworks and for reimbursement of insular loan, sixty-eight thousand one hundred pesos; municipality of Palo, for waterworks and reimbursement of insular loan, thirty-four thousand and two hundred pesos; municipality of Tanauan, for waterworks, fifteen thousand pesos; municipality of Dagami, for waterworks, eight thousand pesos, making a total sum of eight hundred and five thousand and three hundred pesos: Provided, That if it shall for any reason not be necessary to use any of the sums above mentioned in their entirety, the unexpended balance thereof shall be used for the construction of such permanent improvements as the provincial board or the municipal council concerned may designate, subject to the approval of the Governor-General. The Governor-General of the Philippine Islands is hereby authorized to issue the necessary bonds for said loan, at the request of the provincial board of Leyte and the municipal councils of the municipalities above named, and in the name and behalf of the aforesaid province and municipalities. The bonds so authorized shall be issued in convenient denominations, in registered form, and shall be registered and transferable and payable in the office of the Insular Treasurer at Manila. They shall have the same date, bear interest at the same rate, and be payable at the same time as the bonds of the Government of the Philippine Islands authorized to be issued in section three of this Act.