An Act relating to general obligation bonds of the Territory of Hawaii, amending Public Laws 640 and 643 of the 83d Congress (68 Stat. 782, ch. 889, and 68 Stat. 785, ch. 892), and ratifying certain provisions of act 273, Session Laws of Hawaii, 1955, which authorize issuance of public improvement bonds for schools in the city and county of Honolulu and the county of Hawaii
PL 84-720 (H.R.9768), enacted 07/14/1956

552 
PUBLIC LAW 720-JULY 14, 1956 
[70 ST A T , 
July 14, 1956 
[H. R. 9768] 
Public Law 720 
CHAPTER 606 
AN ACT 
Relating to general obligation bonds of the Territory of Hawaii amending Public 
Laws 640 and 643 of the Eighty-third Congress (68 Stat. 782, ch. 889 and 68 
Stat. 785, ch. 892), and ratifying certain provisions of Act 273, Session Laws 
of Hawaii, 1955, which authorize issuance of public improvement bonds for 
schools in the city and county of Honolulu and the county of Hawaii. 
Hawaii. 
S c h o o l 
bonds; 
debt limitation. 
48 u s e S62n. 
31 Stat. 141. 
48 u s e 491 note. 
48 u s e 562o. 
48 u s e 491 note. 
48 u s e 562h. 
48 u s e 562n. 
48 u s e 562o. 
Serial bonds; ma-
turity. 
Be it enacted hy the Senate and House of Representatives 
of the 
United States of America in Congress assembled^ That Public Law 
640 of the Eighty-third Congress, approved August 24, 1954 (68 Stat. 
782, ch. 889), is hereby amended by deleting the proviso from the first 
sentence thereof and inserting in lieu thereof the follow ing: '•'Provided, 
however, That the total indebtedness of such Territory shall not exceed 
$95,000,000 or the amount of total indebtedness authorized by the 
Haw^aiian Organic Act, whichever is the higher." 
SEC, 2. Section 2 of Public Law 643 of the Eighty-third Congress, 
approved August 24, 1954 (68 Stat. 785, ch. 892) is hereby amended 
to read as follows: 
"SEC. 2. During the years 1954 to 1959, inclusive, the Territory of 
Haw^aii is authorized to issue, any provision of the Hawaiian Organic 
Act or any other Act of Congress to the contrary notwithstanding, 
public improvement bonds in such amounts as will not cause the total 
indebtedness of such Territory to exceed $95,000,000 or the amount 
of total indebtedness authorized by the Hawaiian Organic Act, which-
ever is the higher. 
"In applying the Territory's debt limitation, whether prescribed 
by this or other specific Act of Congress or by the Hawaiian Organic 
Act, the computation of the amount to w^hich the total indebtedness 
of the Territory may be extended at any time shall include all general 
obligation bonds, whether for public improvements or for other pur-
poses for which general obligation bonds are or may be authorized 
to be issued by the Congress: Provided, That during the year 1960 and 
thereafter if the Territory's debt limitation prescribed by the Hawaiian 
Organic Act shall be less than $95,000,000 there shall be added 
to the Territory's debt limitation so prescribed by the Hawaiian 
Organic Act such amount as represents the outstanding indebtedness 
incurred for the purposes authorized by Public Law 640, Eighty-
third Congress, as amended, but such addition shall not cause the 
total indebtedness of the Territory to exceed $95,000,000. 
"Nothing herein shall be deemed to preclude the issuance of bonds 
after 1959 under Public Law^ 640 of the Eighty-third Congress, as 
amended, in accordance with the authorization therein set forth." 
SEC. 3. Section 5, subsections (a) to (e), inclusive, and section 6 
siibsections (a) to (e), inclusive, of Act 273 of the Session Laws of 
Hawaii, 1955, being an Act relating to public improvements and for 
other purposes, are hereby ratified and confirmed, subject to the pro-
visions of section 2 of Public Law 643, Eighty-third Congress, as 
amended. 
The bonds so authorized, w^hen issued in accordance wdth 
the provisions of section 2 of Public Law 643, Eighty-third Congress, 
as amended, shall be valid notwithstanding any other provision of law 
as to debt limitations. 
All bonds issued pursuant to this section shall be serial bonds pay-
able in substantially equal annual installments, w^ith the first such 
installment maturing not later than five years from the date of issue 
and the last such installment maturing not later than thirty years 
from such date. 
Such bonds may be issued without the approval of the President 
of the United States. 
Approved July 14, 1956.