Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1913-04-04

| u6 SullIc piOScSuo vi oil
and bonds issued by said corporation
shall be applied to capital expendi-
ture, and no money shall be paid or
property distributed by said corpora
| ton to or among its stockholders ex-
cept out of earnings unless the cap
| ital stock shall be reduced correSpon-
dinghy; nor, except as provided by law
or approved by said commission, shall
said corporation purchase or invest in
the stock or bonds of any other cor
poration or any property not reason
ably required for the construction,
maintenance or operation of it's rail-
way and the equipment and works
connected herewith -... ~.
Section s. That said Act 50 and Act
70 of the laws of Hawaii of 1898 are
hereby amended as follows:
Add to section of said act 50 (re-
vised laws, Sec 1850: Corporation
shall refer to and mean the corpora
tion referred to in section 2 of this
act and the holder of the franchise
granted thereby. Political division
shall refer to and mean the city and
county of Honolulu or such other POI
litical division of the territory of Ha-
wall as may be designated by the leg.
islature of Hawaii; and board of SUI
pervisors' shall refer to and mean the
board of supervisors of said city and
county of Honolulu or such other body
as may be designated from time to
time by said legislature"
Strike out governor" and super
intendent of public works" and 'su-
perintendent of public works, with the
approval of the governor" and with
the approval of the governor, the SUI
perintendent of public works" in sub
division IL of section 2, subdivisions
1, 2, 5, 8, 9 and 10 of section 4, section
8 as amended by act 7S Of the laws of
Hawaii of 1905, subdivision 4 of sec
ton g, subdivision 3 of section 20,
section 33 and section Sc of said act
SO and section l of said act 20 (revis-
ed laws, secs. 1886, 1888, S42 as amend
ed, 843, S54, 1854, 868 and 500 and in
sert in lieu thereof commission re-
ferred to in section of said act SO as
amended, except in the first two.
sentences of said subdivision 3
of ssection 20, in which sentences
insert in lieu thereof "appro-
pirate authority" a n d strike
out "or other officer duly appointed
by him." and in said section 33 strike
out him" and insert in lieu thereof
.''it."
Insert "and such political division"
or "or such political DIVISION" as the
context requires, after territory" and
territory of Hawaii" wherever they
occur in subdivision 4 of section 4 and
subdivision of section 29 (revised
laws, secs. S3S and 864; and in the
first paragraph of said subdivision 3
of section 20 strike out shall and in
sert in lieu thereof may.
Strike out attorney general of the
territory of Hawaii or any other per-
son to the use of the territory in
section of said act SO (revised laws,
sec. S42) and insert in lieu thereof
attorney of such political division, or
any other person to the use of such
political division"
Strike out department in section
81 of said act 50 (revised laws, sec.
1861 and insert in lieu thereof of
such political division.
Section 9. Sections IA and 10 of
said act SO (revised laws, secs S4S
and 849) are hereby repealed.
Section 10. This act shall take eff
feet when the Honolulu Rapid Tran
sit and Land Company. the holder of
the franchise granted by said acts So
and 20, shall notify the governor of
Hawaii in writing that it has accept
ed. the terms hereof by an affirmative
vote of the holders of majority of
its stock; provided, that this act shall
be approved by the congress of the
United States within two years after
its passage by the legislature of the
territory of Hawaii, and that said Ho-
nolulu Rapid Transit and Land Com
pany shall notify the governor of such
acceptance by it within six months
after such action by the congress of
the United States. Upon receiving
such notification the governor shall
publish notice thereof in a newspaper
of general circulation published in the
city and county of Honolulu.
80