Section 4
SEC. 4. The proceeds of the sale of the National Government bonds authorized to be issued by this Act are appropriated for the payment of the bonds issued by the Province of Rizal and the municipalities of Pasay, San Juan del Monte, Caloocan, Malabon, Pasig, Paranaque, Marikina, Mandaluyong, Makati, Antipole, Binangonan, and Tanay, and conveyed and transferred as security for the National Government bonds above-mentioned, in accordance with sections one and two of this Act.