Page:United States Statutes at Large Volume 45 Part 1.djvu/1227

 1176 SEVENTI ETH C ONG RES S. SEss. TI. CH. 202. 1929. February 14, 1929. CHAP. 202 .-An Act To authorize the settlement of the indebtedness of the [H. R. 10760.] Hellenic Republic to the United States of America and of the differences arising [Public, No. 747 .] out of the tripartite loan agreement of February 10, 1918. Greece. Be it enacted by the Senate and House of Representatives o f the Agreement a uthor- ized for settlement of United States o f America in Congress assembled, That the Secre- indebtedness of. tary of the Treasury, with the approval of the President, is hereby authorized to conclude an agreement for the settlement of the indebt- edness of the Hellenic Republic (hereinafter referred to as Greece) to the United States of America under the terms and conditions as set forth in Senate Document Numbered 51, Seventieth Congress, first session. The general terms of the agreement shall be as follows Bonds therefor to be (2) The bonds aggregating in face amount $20,330,000 (the exist ; paid in semiannual in- lna' indebtedness as computed aabove, together ether with the interest to stallments up to Janu- g 7 g ar y 11, 1990. be paid in respect thereof) shall be paid in semiannual installments beginning July, 1928, up to and including January 1, 1990, on a fixed schedule, subject to the right of Greece to make such payments in three-year periods, any postponed pay ments to bear interest a t Amoun t of ins tall- 41/ 4 per centum per annum, payable semiannually. The amount of ments. the first annual installment shall be $40,000, the annual installment to increase to $350,000 in the eleventh year, which shall be the amount of each remain ing annual in stallment. Payme nt o n ac count (3) In additio n to the paym ent of the bon d maturing on January of unmatured bonds. 1 or July 1 of any year, Greece shall have the right on such dates to make paymen ts on account of any unmat ured bonds of this series -tinder such conditions as to notice or otherwise as the Secretary of the Treasury may prescribe. Accep tanc e of Fed- (4) Any payment may be made at the option of Greece in any eral obligations in pay- meats. United States Government obligations issued after April 6, 1 917, such obligations to be taken at par and accrued interest. Further advance au- (5) To assist in the completion of the work of the Greek Refuge thorized. Settlement Commission, the Secretary of the Treasury is further Vol.40, p . 299. authorized to advance to Greece out of the appropriation " Pur chase of obligations of foreign governments," established under authority of the Liberty Bond Acts, the sum of $12,167,000, for which Greece shall deliver to the Secretary of the Treasury its twenty-year gold bonds bearing interest at the rate of 4 per centum per annum, pay- able semiannually, with provisions for a sinking fund sufficient to retire such bonds within twenty years. Securities furnished (6) Greece shall, in accordance with the exchange of notes, dated from excess of revenues. January 18, 1928, between the United States and Greece and as set forth in Senate Document Numbered 51, Seventieth Congress, first session, furnish as securities for the loan referred to in paragraph (5), the excess of revenues under the control of the International Amount state d. be (1) The existing indebtedness amounting to $18,125,000 shall funded over a period of sixty-two years. The computation of this indebtedness is set forth below Principal amount of obligations to be funded $16,000,000 .00 Interest accrued and unpaid thereon to December 15, 1922, at the rat e of 41/4 per centum per annum 744, 333 .79 Total principal and interest accrued and unpaid as of December 15, 1922 15, 744, 333 .79 Interest thereon at 3 per centum per annum from December 15, 1922, to January 1, 1928 2, 383, 588 .88 18,127, 922 .67 To be paid in cash b y Greece upon execut ion of agreement 2,922.67 Total indebtedness to be funded 18,125, 000 .00

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