Page:United States Statutes at Large Volume 47 Part 1.djvu/821

 12d CONGRESS. SESS. II. CHS. 39, 43. FEBRUARY 7, 8, 1933 . 797 denominations not exceeding $1,000 each : Provided, however, That ption. the common council of the said town of Fairbanks may reserve the right to pay off such bonds in their numerical order at the rate of $20,0 00 thereo f per ann um from a nd after the expi ration of five yea rs Principal and inter. from the date of issue. Principal and interest shall be payable in esc payments. lawful money of the United States of America at the office of the town treasurer of the town of Fairbanks, or at such bank in the city of New York, in the State of New York, or such place as may be designated by the common council of the town of Fairbanks, the place of payment to be mentioned in the bonds : Provided further, That sr equ iri gna tur eme nta nd s eal each and every bond shall have the written signature of the mayor e . and clerk of said town of Fairbanks, and also bear the seal of said town. SEC. 5 . That no part of the funds arising from the sale of said Limitation on Use of bonds shall be used for any purpose other than specified in this Act. funds, etc. Said bonds shall be sold only in such amounts as the common council shall direct, and the proceeds thereof shall be disbursed for the pur- pos es her einbef ore me ntione d and under the ord er and direc tion o f said common council from time to time as the same may be required for said purposes. SEC. 6. That the Act of Congress entitled "An Act to authorize Former Act repealed . Vol 44, p. 1082, ro. the incorporated town of Fairba nks, Alaska, to issue bonds for the pealed. purchasing, construction, and maintenance of an electric light and power plant, telephone system, pumping station, and repairs to the water front, and for other purposes," approved February 7, 1927 (44 Stat . L. 1062), be, and the same is hereby, repealed. Approved, February 7, 1933. [CHAPTER 43 .] AN ACT February 8, M. To authorize the distribution of Government-owned cotton to the American	[H. R. 13607.1 National Red Cross and other organizations for relief of distress. [Public, No. 329.1 Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the Federal government-owned Farm Board is authorized and directed to take such action as may Amen t Natfo to be necessary to make available, at any time prior to May 1, 1934, on Red Cross, et cƒ an- application of the American National Red Cross, or any other the , or ganiz atio n des ignat ed by the Red Cross the rema inder (not in excess of three hundred and fifty thousand bales) of the cotton of the Cotton Stabi lizati on Cor porati on, for use i n prov iding cloth, - pose-wearing apparel, and bedding, comforters and blankets for the needy and distressed people of the United States and Territories. Such cotton shall be delivered upon any such application only upon d ent ro 1- the approval of the President of the United States and in such amounts as the President may approve. SEC. 2. No part of the expenses incident to the delivery, receipt, No Federal expense. and distribution of such cotton shall be borne by the United States or the Federal Farm Board. In order to carry out the purposes Uses provided for. of this Act such cotton may be manufactured into, exchanged for, or disposed of -and t he procee ds used f or acquir ing, clot h or wear ing apparel or other articles of clothing or bedding made of cotton ; but such manufacture, exchange, or sale shall be without profit to No profit. any mill, organization, or other person. Sac. 3. In so far as cotton is delivered to relief agencies by the biLoam aftcoon•a on. Cotton Stabilization Corporation under this Act the Federal Farm Bo ard is au thorized to cancel such par t of its loans to such cor pora- lati rooort don cancel . tion as equals the proportionate part of said loans represented by the de live ries.