By authority of the United States, be it enacted by the Philippine Commission, that:
Whereas it has been made to appear that by mistake the lists of assessment of land for the purpose of taxation in the municipality of Misamis, in the Province of Misamis, as made by the board of tax revision were entered as gold values, although the valuations has been made in Mexican money, so that the valuation are practically twice as large as intended by the board of tax revision, and it further appearing that there are numerous erroneous assessments in the municipality of Oroquieta in said province; Therefore:
Section 1. The provincial board of the Province of Misamis is hereby authorized to correct all such valuations on the assessment lists of the municipalities of Misamis and Oroquieta and to state the valuables in money of the United States in each case where it is made clear that the valuation now stated upon the assessment lists is stated upon a basis of local currency instead of money of the United States, and also to correct any and all erroneous assessments in said municipalities. For the purpose of this Act the reduction shall in all cases be made upon a basis of two dollars of local currency for one dollar of money of the United States. The assessment lists when so corrected shall be as lawful and valid for all purposes as though the correction herein provided had been made by the board of tax revision at the proper time.
Section 2. The public good requiring the speedy enactment of this bill, the passage of the same is hereby expedited in accordance with section two of “An Act prescribing the order of procedure by the Commission in the enactment of laws,” passed September twenty-sixth, nineteen hundred.
Section 3. This Act shall take effect on its passage.