Volume 68 · 789
Public Law 83–649
To enable the Legislature of the Territory of Hawaii to authorize the city and county of Honolulu, a municipal corporation, to issue public improvement bonds.
Approved August 24, 1954
Statutory text
AN ACT
To enable the Legislature of the Territory of Hawaii to authorize the city and county of Honolulu, a municipal corporation, to issue public improvement bonds.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
That the Legislature
Honolulu, Hawaii.
Improvement bonds.
of the Territory of Hawaii, notwithstanding any provisions of the Hawaiian Organic Act, any laws of the Territory of Hawaii or of any Act of this Congress to the contrary, may authorize the city and county of Honolulu, a municipal corporation of the Territory of Hawaii, to issue bonds in the sum of $1,000,000, for the purpose of enabling it to construct flood-control and drainage systems in the city and county of Honolulu.
Sec. 2.
The bonds issued under authority of this Act shall be serial bonds, payable in substantially equal annual 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.
Sections 3 and 4 of Act 254 of the Session Laws of Hawaii 1953, pertaining to the issuance of public improvement bonds, as authorized by this Act, are hereby ratified and confirmed subject to the provisions of this Act.
Approved August 24, 1954.