Page:United States Statutes at Large Volume 68 Part 1.djvu/814

 782

Restriction*

Definition.

PUBLIC LAW 640-AUG. 24, 1954

Hawaii. General oblige • tion bonds. 31 Stat. 141. 48 USC 4 9 1.

Limitation.

Smuggling penalties. 62 Stat. 716.

CHAPTER 889 AN ACT

To enable the Legislature of the Territory of Hawaii to authorize the issuance of general obligation bonds, the proceeds thereof to be used for veterans' mortgages. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assemMed, That the Legislature of the Territory of Hawaii, any provision of the Hawaiian Organic Act, or any law of the Territory of Hawaii, or of any Act of this Congress to the contrary notwithstanding, may authorize the issuance of general obligation bonds in the amount of $20,000,000, such authorization to be over and above any limitation on the bonded debt of the Territory imposed by the Hawaiian Organic Act and in addition to all other issues in excess of said debt limitation authorized by the Congress: Provided, however. That the total indebtedness of such Territory shall not exceed $95,000,000. The proceeds of such bonds shall be used for the purchase of mortgages made on or after July 1, 1954, or for the making of mortgages, on homes and farms of veterans within the Territory of Hawaii. SEC. 2. The bonds issued under the authority of this Act shall be serial bonds, payable in substantially equal installments, the first installment to mature not later than five years and the last installment to mature not later than thirty years from the date of such issue. Such bonds may be issued without the approval of the President of the United States. SEC. 3. Act 211 of the Session Laws of Hawaii 1953, relating to the issuance of general obligation bonds, as authorized by this Act, is hereby ratified and confirmed, subject, however, to the provisions of this Act. Approved August 24, 1954. Public Law 641

August 24, 1954 [H. R. 6113]

STAT,

SEC. 4. No sale shall be made hereunder to any applicant who has already acquired public land pursuant to the provisions of this Act, or to any applicant whose application is not filed within two years from the date of approval of this Act, or such shorter period as shall be specified by rule or regulation. SEC. 5. The term "predecessor in interest" includes any individual or individuals, partnership, corporation, or other legal entity, and in the case of an applicant who is a permittee under a revocable permit shall include such applicant occupying under a lease or a sublease immediately prior to the issuance of the revocable permit and the person from whom the applicant acquired such lease or sublease. Approved August 24, 1954. Public Law 640

August 24, 1954 [H. R. 5997]

[68

C H A P T E R 890

AN ACT To amend title 18 of the United States Code, so as to increase the penalties applicable to the smuggling of goods into the United States.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That section 545 of title 18, United States Code, is amended by striking out "$5,000" and inserting in lieu thereof "$10,000", and by striking out "two years" and inserting in lieu thereof "five years".

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