Page:United States Statutes at Large Volume 55 Part 1.djvu/809

 PUBLIC LAWS-CH. 544-NOV. 26, 1941 lessee, or to the previous lessee, as the case may be, the value thereof, less any indebtedness to the Commission, or for taxes, or for any other indebtedness the payment of which has been assured by the Commission, from the deceased lessee or the previous lessee. Such payment shall be made out of the loan fund and shall be considered an advance therefrom reimbursable out of payments made by the successor or successors to the tract involved. Appraisers. "Such appraisal shall be made by three appraisers, one of which shall be named by the Commission, one by the previous lessee or the legal representative of the deceased lessee, as the case may be, and the third shall be selected by the two appraisers hereinbefore mentioned." Textual changes. 2. By deleting therefrom paragraph (3) thereof. 3. By substituting for the figure "(4)", of paragraph (4) thereof, the figure "(3)". 4S.c. 1 707. SEC. 4. Section 213 of the Hawaiian Homes Commission Act, 1920, is hereby amended to read as follows: "SEC. 213. HAWAIIAN HOME-LOAN FUND; HAWAIIAN HoME-DEVEL- OPMENT FUND; HAWAIIAN HOME-ADMINISTRATION ACCOUNT; How loawanand home- CONSTITUTED.-There is hereby established in the treasury of the Ter- ritory a revolving fund to be known as the Hawaiian home-loan fund and special funds to be known as the Hawaiian home-development fund and the Hawaiian home-administration account. Thirty per centum of the Territorial receipts derived from the leasing of cul- tivated sugarcane lands under any other provisions of law, or from water licenses, shall be deposited into the Hawaiian home-loan fund until the aggregate amount of moneys deposited therein from such two sources, together with moneys received and deposited therein from any other sources, not including, however, installment payments upon loans made to lessees or payments by a successor or successors to the tract representing reimbursements on account of the advance Ante,p.783. made pursuant to section 209 (1), shall equal $2,000,000. In addi- tion to these moneys and the moneys covered into the loan fund as installments paid by lessees upon loans made to them as provided in 42 Stat. 112. paragra ph 2 of section 215, there shall be deposited into said revolv- 4 sU s. C. 1700(2). Post, p. 786. ing fund all other moneys, except moneys received for the Hawaiian home-administration account, received by the Commission from any Availability. source whatsoever. The moneys in said fund shall be available only for loans to lessees as provided for in this Act, for interest and sink- ing fund charges uponbonds issued for Hawaiian homes purposes and for the payments provided for in section 209 (1), and shall not be Hawaiian home-de- expended for any other purpose whatsoever, except that 25 per velopmentfund. centum of the amount of moneys so covered into the said revolvlng fund annually shall be transferred into the Hawaiian home-develop- ment fund until the aggregate amount of such annual transfers shall Use of moneys, equal $400,000. The moneys in said development fund shall be avail- able, with the prior written approval of the Governor, for the con- struction of necessary improvements for domestic use and consump- tion of water, including the construction of pipe lines and reservoirs, for the construction of sanitary sewerage facilities and for the con- Matching Federal, struction of roads through and over Hawaiian home lands. The etc., funds. Commission is authorized and empowered to use moneys in said fund, with the prior written approval of the Governor, to match Federal, Territorial, or county funds available for the above purposes and to that end is authorized to enter into such undertaking, agree to such conditions, transfer funds herein available for such expenditure and do and perform such other acts and things, as may be necessary or required, as a condition to securing match funds for such projects or works. 784 [55 STAT.

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