The Hawaiian gazette., 1904-05-03

1 COUNT ana deposit iDut not OF SSueb.
loan, trust, and guaranty associations,
for the establishment and conduct of
| cemeteries, and for the construction
and operation of railroads. wagon
roads, vessels, and irrigating bitches,
| and the colonization and improve
| ment OF lands in connection there
with. or for colleges, seminares.
churches libraries or any other benev-
olent, charitable, or scientific associa-
ton: Provided, That no corporation,
domestic OF, foreign, shall acquire and
hold real estate in Hawaii in excess
of one thousand acres; and all real
estate acquired or held by such cor
poration or association contrary hereto
shall be forfeited and escheat to the
United States but existing vested rights
in real estate shall not be impaired.
No divorce shall be granted by the
Legislature, nor shall any divorce be
granted by the courts of the Terri
tory unless the applicant therefor shall
have resided in the Territory for two
years next preceding the application,
but this provision shall not affect any
action pending when this Act takes
effect; nor shall any lottery or sale
of lottery tickets be allowed; nor shall
spirtuous or intoxicating liquors be
sold except under such regulations and
restrictions as the Territorial legisla-
ture shall provide; nor shall any public
money be appropriated for the sup
port or benefit of any sectarian de-
nominational, or private school, or any
school not under the exclusive control
of the government; nor shall the gov
eminent of the Territory of Hawaii,
or any political or municipal corpora
ton or subdivision of the Territory,
make any subscription to the capital
stock of any incorporated company, or
in any manner lend its credit for the
use thereof: nor shall any debt be
authorized to be contracted by or on
behalf of the Territory, or any political
or municipal corporation or subdivi-
sion thereof, except to pay the interest
upon the existing indebtedness, to sup
press insurrection, or to provide for
the common defense, except that in adj
dition to any indebtedness created for
such purposes the legislature may au-
thorize loans by the Territory, or any
such subdivision thereof for the erec-
ton of penal, charitable, and educa-
tional institutions, ana for public
buildings, wharves, roads, and harbor
and other public improvements, but
the total of such Indebtedness incur
red in any one year by the Territory or |
any subdivision shall not exceed one |
per centum upon the assessed value of |
taxable property of the Territory or |
thereof, as the case may
be, as shown by the last general as
sessment for taxation, and the total
for the Territory shall not
at any time be extended beyond seven
per centum of such assessed value, and
the total indebtedness of any subdivi-
sion shall not at any time be extended
beyond three per centum of such as
sessed value, but nothing in this pro-
vision shall prevent the refunding of
my existing indebtedness at any time;
nor shall any such loan be made upon
the credit of the public domain or
my part thereof, nor shall any bond
)r other instrument of any such in
lebtedness be issued unless made re-
leemable in not more than five years
md payable in not more than fifteen
ears from the date of the issue there
If; nor shall any such bond or in
be incurred until approved
" the President of the United States"