Chapter 203. To amend an Act entitled “An Act to declare the purpose of the people of the United States as to the future political status of the people of the Philippine Islands, and to provide a more autonomous government for these islands,” approved August 29, 1916, as amended by an Act to amend said Act appro
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CHAP. 203.— An Act To amend an Act entitled “An Act to declare the purpose of the people of the United States as to the future political status of the people of the Philippine Islands, and to provide a more autonomous government for these islands,” approved August 29, 1916, as amended by an Act to amend said Act approved July 21, 1921. May 31, 1922.[[H. R. 10442](/us/bill/67/hr/10442).][[Public, No. 228](/us/67/pl/228).] *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, Philippine Islands Government.Vol. 39, p. 548.
That the Act entitled “An Act to declare the purpose of the people of the United States as to the future political status of the people of the Philippine Islands, and to provide a more autonomous government for these islands,” approved *Ante*, p. 145.August 29, 1916, as amended by an Act entitled “An Act to amend an Act entitled ‘An Act to declare the purpose of the people of the United States as to the future political status of the people of the Philippine Islands, and to provide a more autonomous government for these islands,” approved July 21, 1921, be further amended as follows: 599 " That the proviso of section 11 of said Act as amended, be, and theBonds authorized. same is hereby, further amended to read as follows:
“*Provided, however*, That the entire indebtedness of the Philippine Government created by the authority conferred herein, exclusive ofAllowed indebtedness increased.Vol. 39, p. 548.*Ante*, p. 145, amended. those obligations known as friar land bonds, shall not exceed at any one time 10 per centum of the aggregate tax valuation of its property, nor that of the city of Manila 10 per centum of the aggregate taxCity of Manila, etc. valuation of its property, nor that of any Province or municipality, a sum in excess of 7 per centum of the aggregate tax valuation of its property at any one time.
In computing the indebtedness Secured by Provinces, etc., not counted.of the Philippine Government, bonds not to exceed $10,000,000 in amount, issued by that Government, secured by an equivalent amount of bonds issued by the Provinces or municipalities thereof, shall not be counted.” " Approved, May 31, 1922.