Section 2
SEC. 2. The President of the Philippines is authorized to convey and transfer said bonds to the Republic of the Philippines for a consideration, charging the same to the net proceeds of the sale of bonds of the Republic of the Philippines issued in equivalent amount as provided in Section three hereof, and to deposit the proceeds of said conveyance with the Treasurer of the Philippines. The said proceeds of the conveyance to the National Government of the said bonds shall be credited by the Treasurer of the Philippines to the "Cement Roads Bond Fund, Province of Iloilo" and be withdrawn only for the purposes set forth in this Act in accordance with resolutions of the Provincial Board of Iloilo.