An Act to amend section 606 (5) of the Merchant Marine Act, 1936, relating to the computation of the 10-year recapture period
PL 84-515 (H.R.4118), enacted 05/10/1956

148 
PUBLIC LAW 514-MAY 9, 1956 
[70 S T A T 
46 Stat. 471; 52 
Stat. 1087. 
regulations to be prescribed by the Secretary of the Treasury. 
Receipts from such reimbursement shall be deposited as refunds to 
the appropriation from which paid, in the manner provided for in 
section 524 of the Tariff Act of 1930, as amended (19 U. S. C. 1524). 
Approved May 9, 1956. 
May 9,1956 
[H. R. 9078] 
Public Law 514 
CHAPTER 243 
AN ACT 
To pr<ivide that the authorized strength of the Metropolitan Police force of the 
District of Columbia shall be not less than two thousand five hundred oflScers 
and members. 
D. C. 
P o l i c e 
Department. 
Increase to 2,500 
members. 
31 Stat. 819. 
39 Stat. 720. 
Be it enacted hy the Senate and House of Representatives 
of the 
United States of America in Congress assembled, That paragraph 3 
of the first section of the Act entitled "An Act relating to the Metro-
politan Police of the District of Columbia", approved February 28, 
1901 (D. C. Code, sec. 4-106), is amended by adding at the end thereof 
the following new sentence: "The Metropolitan Police force shall con-
sist of not less than two thousand five hundred officers and members, 
in addition to the persons appointed as surgeons for the Metropolitan 
Police force, appointed as police matrons, or appointed as special 
privates pursuant to sections 378 and 379 of the Revised Statutes of 
the United States relating to the District of Columbia, approved June 
22,1874 (D. C. Code, sec. 4-133), and in addition to any retired officer 
or member of the Metropolitan Police force called back into service 
pursuant to section 12 of the Act entitled 'An Act making appropria-
tions to provide for the expenses of the government of the District of 
Columbia for the fiscal year ending June thirtieth, nineteen hundred 
and seventeen, and for other purposes', approved September 1, 1916 
(D.C. Code, sec. 4-514)." 
Approved May 9, 1956. 
May 10. 1956 
[H. R. 4118] 
Public Law 515 
CHAPTER 247 
AN A c t 
To amend section 606 (5) of the Merchant Marine Act, 1036, relating to the 
computation of the 10-year recapture period. 
Merchant Marine 
Act, amendment. 
49 StaU 2004. 
R e c a p t u r 
e 
period. 
46 u s e 1177. 
Be it enacted hy the Senate and House of Representatives 
of the 
United States of America in Congress assembled, That subdivision (5) 
of section 606 of the Merchant Marine Act, 1936, as amended (46 
U. S. C. 1176), is amended to read as follows: 
"(5) that when at the end of any ten-year period during which 
an operating-differential subsidy has been paid under a contract 
or consecutive contracts (such period to be computed from the end 
of the operator's last completed recapture period regardless of its 
duration, or from the beginning of subsidized operations if the 
operator has not previously comx^leted a recapture period), or 
when prior to the end of such ten-year period subsidized opera-
tions shall be finally terminated, if the net profit of the contractor 
on his subsidized vessels and services incident thereto during such 
period or time (w^ithout regard to capital gains and capital losses), 
after deduction of depreciation charges based upon a life 
expectancy of the subsidized A'essels determined as j)rovided in 
section 607 (b), has averaged more than 10 per centum per annum 
upon the contractor's capital investment necessarily employed in 
70 S T A T . ] 
PUBLIC LAW 5ie-MAY 10, 1956 
149 
the operation of the subsidized vessels, services, routes, and lines, 
the contractor shall pay to the United States an amount equal 
to one-half of such profits in excess of 10 per centum per annum 
as partial or complete reimbursement for operating-differential 
subsidy payments received by the contractor for such recapture 
period, but the amount of excessive profit so recaptured shall not 
m any case exceed the amount of the operating-differential subsidy 
payments theretofore made to the contractor for such period 
under such contract or consecutive contracts and the repayment 
of such reimbursement to the Commission shall be subject to the 
provisions of section 607;" 
SEC. 2. Each operating-differential subsidy contract in force on the contTacfs*"*"** °' 
date of enactment of this Act shall, if the subsidized contractor con-
sents, be amended to conform to the provisions of section 606 of the 
Merchant Marine Act, 1936, as amended by section 1 of this Act. 
Approved May 10, 1956. 
Public Law 516 
CHAPTER 248 
AN ACT 
„ 
,„ ,„,,. 
May 10, 195 I
S 
To authorize the Territoi-y of Alaska to incur indebtedness, and for other 
[H. R. 4781] 
purposes. 
Be it enacted hy the Senate and House of Repi'esentatives 
of the 
United States of America in Congress assembled^ That the Territory 
piM?<?improve-
of Alaska is autliorized and empowered, notwitlistanding any pro- ment bonds; 
vision of the Organic Act of Alaska or any other Act of Congi-ess to 
the contrary, to borrow on the credit of the Territory from time to 
time such sums as may be necessary for constructing, altering, equip-
ping, or acquiring public improvements including, but without limita-
tion, schools, hospitals, colleges, offices, prisons, and other public build-
ings, and roads, water and sewer systems, wharves, docks, bridges, and 
other public facilities, and to issue bonds of the Territory for such 
borrowings. Such bonds shall be issued only by authorization of the 
Territorial legislature, shall bear such rates of interest as may be 
authorized by the law under which the bonds are issued, and shall be 
sold for not less than their principal amount plus accrued interest. 
The principal amount of such bonds outstanding at any one time shall 
not exceed $20,000,000. The faith of the Territory shall be solemnly 
pledged to the payment of all such bonds according to their terms. 
SEC, 2. No such bonded debt shall be contracted unless it shall be 
authorized by Territorial law for one or more public improvements, 
whicli shall be distinctly specified in such law. No such bonded debt 
shall be contracted for a period longer than the probable life of the 
works of improvement for which the debt is to be contracted nor, in 
any event, for a period longer than thirty years. A determination of 
such probable life provided by either a special or general law of the 
Territory in effect at the time the debt is contracted shall be conclusive. 
SEC. 3. The bonds provided for in this Act shall be serial bonds the 
maturities of which shall be so scheduled as to provide for the pay-
ment of the principal of each issue of bonds in annual installments, 
Avhich need not be equal. The earliest-maturing bonds of each issue 
shall become payable not more than three years from the date of the 
issue, and the latest-maturing bonds of each issue shall become pay-
able before or upon the expiration of the probable life of the works 
of improvement for which the issue was made and, in any event, not 
more than thirty years from the date of the issue. The privilege of 
redeeming all or any part of the bonds of each issue prior to the