Page:United States Statutes at Large Volume 45 Part 1.djvu/450

 SEVENTIETH CONGRESS. SESS. I. Cxs. 303, 304. 1928 . 399 $30,000 in compromise and settlement of said claim or cl aims : Provided further, That said sum shall be covered into the Treasury of the United States to the credit of the United States and the revenues of the District of Columbia in equal parts. Approved, March 30, 1928. March 30, 1928. CHAP. 304 .-An Act To authorize the settlement of the indebtedness of the	[H. R. 367.] Kingdom of the Serbs, Croats, and Slovenes. [Public, No. 231.] Be it enacted by the Senate and House of Representatives of the United States o f America in Congress assembled, That the settlement of the indebtedness of the Kingdom of the Serbs, Croats, and Slovenes to the United States of America made by the World War Foreign Debt Commission and approved by the Preside nt upon the terms and conditions as set forth in Senate Document Numbered 106, Sixty-ninth Congress, first session, is hereby approved in general terms as follows SEC. 2. The amount of the indebtedness to be funded after allowing for certain cash payments made by the Kingdom of the Serbs, Croats, and Slovenes is $62,850,000, which has been computed as follows : Principal of obligations acquired for cash advanced under Liberty Bond Act 	$26,126,574 .59 Accrued and unpaid i nterest at 4 1/4 per cen tum per annum to December 15, 1922	4, 073, 423 .14 Principal of obligations acquired by Secretary of war for surplus war supplies sold on credit__ 24, 978, 020 .99 Accrued and unpaid i nterest at 41 4 per cen tum per annum to December 15, 1922	3,358, 790.45 58,536, 809 .17 Accrued interest at 3 per centum per annum from December 15, 1922, to June 15, 1925	4, 390, 260 .69 Credits Paym ents on acco unt of pri ncip al si nce December 15, 1922 66, 709 .19 Interest thereon at 3 per centum to June 15,1925	3,248.28 $30,199,997-73 28, 336, 811-14 62, 927, 069 . 86 69, 957 .47 Total net indebtedness as of June 15, 1925	62,857,112.39 To be paid in cash upon execution of agreement 7,112.39 Tot al ind ebt edn ess to be funded into bonds 62,850,000.00 SEc. 3. The principal of the bonds shall be paid in annual install- installmentsPapable in ments on June 15 of each year up to and including June 15, 1987, on a fixed schedule subject to the right of the Kingdom of the Serbs, Croats, a nd Slovenes to postpone such payments falling due. after June 15, 1937, for two years, such postponed payment to bear inter- Amount for first five est at the rate of 41/4 per centum per annum. The amount of the years. annual principal installments during the first five years shall be $200 ,000. Commencing with the sixth year the annual p rincipal yea rs. installment shall increase $25,000 a year for t he succeeding seven years. Commencing with the thirteenth year the annual principal . Subsequent installment will be $400,000, the subsequent annual principal install- mereases . ments increasing until in the sixty-second year of the debt funding period the final principal installments shall be $2,406 .000, the aggre- Credited equally to United States and the District. Kingdom of Serbs, Croats, and Slovenes. Settlement of its world war indebted- ness, approved. Vol. 42, p. 363. Amount of indebted- ness. Computation. s even yearly

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