Page:United States Statutes at Large Volume 77.djvu/368

 336

PUBLIC LAW 88-181-NOV. 19, 1963

[77 STAT.

(ii) shall bear such date or dates, may be in such denominations, may mature in such amounts and at such time or times, not exceeding thirty years from the date thereof, may be payable at such place or places, may be sold at either public or private sale, may be redeemable (either with or without premium) or nonredeemable, may carry such registration privileges as to either principal and interest, or principal only, and may be executed by such officers and in such manner, as shall be prescribed by the legislature of the government of the Virgin Islands. In case any of the officers whose s i ^ a t u r e s appear on the bonds or coupons shall cease to be such officers before delivery of such bonds, such signature, whether manual or facsimile, shall nevertheless be valid and sufficient for all purposes, the same as if such officers had remained in office until such delivery. The bonds so issued shall bear interest at a rate not to exceed that specified by the legislature and payable semiannually. All such bonds shall t>e sold l o r not less than the principal amount thereof plus accrued interest. All bonds issued by the government of the Virgin Islands, including specifically interest thereon, shall be exempt from taxation by the Government of the United States, or by the government of the Virgin Islands or any political subdivision thereof, or by any State, territory, or possession or by any political subdivision of any State, territory, or possession, or by the District of Columbia. " (B) The proceeds of the bond issues or other obligations herein authorized shall be expended only for the public improvements set forth in the preceding subparagraph, or for the reduction of the debt created by such bond issue or obligation, unless otherwise authorized by the Congress. " (C) Bonds or other obligations issued pursuant to this paragraph (ii) shall not be a debt of the United States, nor shall the United States be liable thereon." Approved November 19, 1963. Public Law 88-181 November 19, 1963

[H. R. 5244]

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ACT

To modify the project on the Mississippi River at Muscatine, Iowa, to permit the use of certain property for public park purposes.

Be it enacted by the iSeiiate and House of Representatives of the Muscatine, Iowa. United States of America in Congress assembled. That the project Project modifi- ^^j^ ^j^g Misslsslppi Rlvcr at Muscatine, Iowa, authorized in section ""^eVstat. 163. 101 of the Rivers and Harbors Act, 1950, is hereby modified to provide— (a) that in addition to all other purposes set forth in House Document 733, Eightieth Congress, to which local interests agreed to put the real property described in section 2 of this Act, such property may be used by the city of Muscatine, Iowa, for public park and recreation purposes; (b) that local interests shall provide and maintain at local expense adequate public terminal and transfer facilities open to all on equal terms. SEC. 2. The real property referred to in the first section of this Act is a tract of land situated in the county of Muscatine, State of Iowa, being part of the original town of Muscatine, located in the southwest quarter section 36, township 77 north, range 2 west, of the fifth priiicipal meridian, more particularly described as follows: Beginning at the intersection of the extension of the westerly line of Orange Street of said original town of Muscatine and the

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