Chapter 311. To authorize the Secretary of the Navy to modify agreements heretofore made for the settlement of certain claims in favor of the United States
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CHAP. 311.— An Act To authorize the Secretary of the Navy to modify agreements heretofore made for the settlement of certain claims in favor of the United States.March 3, 1927.[[H. R. 15131](/us/bill/69/hr/15131).][[Public, No. 714](/us/pl/69/714).] *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*,Navy.Acceptance of settlement of certain ship-building claims, authorized. That the Secretary of the Naw be, and lie is hereby, authorized, in his discretion, to accept in full settlement from debtors of the United States the present value reckoned at the rate of 4¼ per centum per annum simple interest of all noninterest-bearing obligations for the repayment of money advanced to said debtors to assist them in carrying out contracts with the United States entered into during the late war, such contracts having been executed by the Secretary of the Navy on behalf of the United States or by others acting under his authority.
Approved, March 3, 1927.