:
t,
B e
-
o
6
TRA
;
An Ordinance
0
oViDE
PR
[OANS
ROV
PHE
IMMIGRATION FUND T
45-
|
SIST IN BRINGING THE ISLAND OF
SAINT CEOIX
UNDER A
NORMAL
|
STATE
OF
CULTIVATION OF
SU-
GAR
CANE
BY
ASSISTING
THE
|
SQUATTERS
AND PARCELISTS.
Be
it enacted
by
the
Coloniti
Coancil
for
the
Muanicipality
of
Swint Croie in session
asseimbled:
(1)
The
Government
of
the
Virgmn
Isiands
of the
Uunited
States
is
hereby
|
guthorized
to loan,
on
and
after
the
date
of
approval
of this
ordinance
anid
until
February
28
1924.
an
amount
not
to
ex-
ceed
Franes
100,000.00
of the
means
bo-
longing
to the Immigra‘ion Fund,
for the
purpose
of granting
loans
to
owners
of
real
property
to
enable
them
to
furiher
the co.tivation
of sugay
eant.
Said
toan:
are
to
be
made
upon
security
as
ful-
lows:
(a)
Upon
the
security
of
real
properiv
if
the applicant
possesses
such
sutii-
ciently unencumbered:;
otherwise
(b)
Upon
the
secuarity
of real
property
plus
a
preferential
interest
(n
the
Crop o
eases
where
real
property
1s
available
as
a
porvuon
of the
securt-
|
Ly atberwise
i¢)
Upon
the
security
of
the
crop
by
preferential
elauim
therein.
(2)
The maximum
of the
loap
is
(o be
fixed in each
ndividual
case
proporirin-
ately
to the
area
to
be planted
in
cune
;md
cannot
t'xw'e‘fi
1"‘141)(71
126 DE)
gere,
Ao loans
shafl
be made
to any land
owner
possessing
less
than
one
acre
of
land
avallabie
for
eane
cultivation.
Paites
|
desiring loans
pursuant
to the
[oregoing
shall
make
a written
request
theretor
1o
tne
Chairman
of the
Municipal
Conmunit-
tse,
such request
to state
the amoun:
of
the loan desired,
the real
estate
ol which
the applicant
is owner,
the encumbrances
thereon
and,
if any
liens
exist
agninst
tha
presentor futare
crops,
such
liens
soall
be desceibed
1 detail
includiog the
a nount thereof.
|
(3)
The
Municipal
Committee
shall,
upon
receipt
of
applications
for
loans
under
the foregoing,
cavefully
serutinize
them
for
the
purpose
of determining
first, whether
if
made
they wili accom-
|
plish the
intent
of
this
ordinance,
and
second,
whether
the
seecurity
offered
in
the
case
ot real
property
would
normal-
ly protect
the
Government’s
interest,
and
where
security
of real
propercy
is
ot offered,
whether,
in
its
opinion,
the
applicant
is
suliciently
reliable
to
war-
rant
the
total
or
a
portion
of the loan
requested.
On each
application
it shall
|
gxpress
its
viows in writing and
submit
~
('
n
2
‘N
*
Y
;
I
!
}
’
~A
¥
i
.
£8
2
3
them
to
the
Government.,
Tne
Govera-
ment
veserves
ihe_right
tolinaliy
de-
termine
whnetiior o
not
the
best
inter-
ests
0f
the
Govsrnment
wili
pe
served
by granting
or refusing
any
or all loans
pursaant
to
this
ordinaonc:,
and
may
watve
stamp
and
recording
[ees
1n
eon-
meetion
with
nortgage
Bonds of
Fres.
1.000
and
under.
(4)
The
amounts
loaned,
with infer-
est
at
tne
rate
of 47
per
annum,
are
to be repaid
in the {ollowlng manner:
(a)
As regards
loans
made
azainst
real
proverty
onlv
as
securiy,—in
{uil
with gcerued
interest
upon
the
daie
stated
in the
mortgage
bond,
which
siiall
be
not
later
than
Jduly
1,
1925,
(b)
As
re
ards
loans
secured
partially
by real
proparty
and
the
balance
by
preferentiat
eclaim
in
the 1920 crop,
—on
a
pro
rata
basis
each
week,
datinr
fiom
the
frst
delivers
of
cine
to
the factory,
in
such
manner
that
the
total
lean,
with
accrued
interest,
witl
be
liquidatad with the
last delivery of
caue
to
the
factory.
i¢)
As
regards
loans
secured
entively
bv
preferentiai
eclaim
in
the
1925
¢rop,—in
the
same
maaner
as
(b)
above.
(5)
Provided
that all loans
may
be
re-
paid
at
any
time
before
wmaturity
if the
recipient
so desires.
(6)
In the
ease
of persons
who
have
recoived
loans
under
the
Ordinance
ap-
proved 28 December,
1922, wnich
are
un-
paid
to date,
taeir
apolications
shall
be
passed
upon
in preciseiy
the
same
man-
ner
as
those
of other parties
for the
pur-
pose
of
de
ermining
ine
ammouni
waich
the Government
would
be
warranted
in
loanine
upon
the
s2eurity
oifered
and
the reliabiiity of
the
appiicant;
the
old
loan being considered
as
a habiitly of the
applicant,
The
Municipal
Cormnittee
suall
then
recommend
ihie
net
amount
which,
in
its
opinion,
the
Government
would
be warranted
in loantne
uonder
the
provisions 2 this ordinance,
and
in
suach
cases
the procedare
shall
be
that
the
old
morteage
bond shall
be
cancelled
and
a
new morteage
bond
entered
int)y
repre-
septing
the
sum of the old
loan
with
ae-
crued interest
tnercon
pilus
the
amount
of the
new loan,
(7)
The
party
receiving
a
loan
binds
himselt
to submit
to
such cortrol
of
the
management
of his
estate,
21d the
area
anc
condition
of his
cane
fieids,
as
the
Government
may
cousider
requisite.
(8)
The party receiving
a lvan wholly
or ip part against prefereatia.
claim
and
security
1n the
crop,
Binds
himseif
not
to dispose
of any
part of his crop,
unless
with tne consen.
of tne Goverament,
un-
ti| the
amouat
of such
loan wth
acerued
interest,
snail
have been
repaid
and
ne
further sibmits
himself
to
such
restric-
tions
ss
the
Govermment
may
consider
necassary.
(9)
Louans
made
pursuant
to the provi-
sions
of this Ordisanca
must
be
applied
exclusively
to the furthering of the
culti-
vation of sugar
cane,
and
shouid
any
par-
ty having received
such
loan
he
found
have
applied the
proeeeds
to
other
pur-
poses,
the loan
mayv
be caled
ar
once
and
no
fuvrther
loan
may
be
gramted
such
person.
Any attempt
at disposing
ol the
crop
in
contravention
of
the provisions
of
this paracraph
and
o°
paragravhs
7
and
3
hereoi,
shail
have
the
same
conse:
quences.
10)
No person
receiving
a loan
under
this ordinance
shali
cut his
cane
wiriout
first notifying
the
person
whom
the
Jolo-
nial
Counecii
shall
appeint
for
thw
pur-
pose,
11)
Should
the
available
Tunds
uader
the
Immigration
Fund
be
imsuttic et
to
finance
loans aggr-gating
theamount
spe-
cified in paragraph
one () of tns
o
din
ance,
such
additioral
amounts
as wa;
be
neeessary
may
be
transferred
!vov
the
Leserve
iund
to
the
Immi
rauon lund
and
the
Reserve
Fund
stall
be
reim-
bursed
as
loans
are repaid
.in such
man-
ner thai the
Reserve
Fund
shall
be
‘ully
reimbursed
before
repavments
accrue
to
the eredit
of the
Immigration
bFund.
(12)
To assist
ir
earryvingz out
the pro-
visions
of this Ordinance
tvere
shal
be
appointed
by
the
Coloriul
Coeanecil
four
(4)
men,
two
from
eaci
Country
Dis-
trict.
4
Thus duly passed
at
the 4th
Ordinary
meeting
ot
the
Colonial
Council
held
Monday,
December
17,
1923.
D.
S. ARMSTRONG,
Secretary.
ROBT
L. MERWIN,
Chairman,
The
above
Ordinance
1s hereby
sane-
tioned and approved
in
wuole.
Witpess
my hand
and
the
Seal
of the
Governmeni
of
the
Virgin
lslands
of
the United States
this
twenuy-fourin day
of December,
_l‘;)23'
PHILIP WILLIAMS,
Gowsernor.
(SEAL.)
OUR KEW INDUSTRY.
Plain Cheese
AND
Kommen
Flavoured
Ghess:
can
now
be
had
at
the
Dairy
at
32
cents
a pound.