[1964-3.] With the approval of the Secretary of the Interior, the provincial board shall have authority to make appropriation from the road and public-works fund for the subsidizing or acquiring, operating, and maintaining means of water transportation within the pr ovince or between the province and neighboring provinces or islands or to dredge rivers and provide facilities for communication and transportation by river. ECDaTI SECTION  2042 . Township and Settlement Fund. — There shall be maintained in the provincial treasuries of the respective specially organized provinces a special fund to be known as the township and settlement fund, which shall be available, exclusively, for  expenditures for the benefit of the townships and settlements of the province, and non-Christian inhabitants of the province, upon approval of the Secretary of the Interior. [1964-3.] SECTION  2043 . Loan of Municipal Funds for School Purposes . — Not to exceed twenty per centum of municipal funds deposited with the provincial treasurer and held in reserve may be loaned by the provincial treasurer to municipalities upon application by reso lution of the municipal council of the municipality desiring the loan for permanent public works and upon recommendation of the division superintendent of schools, with the approval of the Director of Education, also for the following purposes: ( a ) The ere ction of school buildings of strong materials; ( b ) the purchase of land for school purposes. [2359-1.] Only funds deposited by municipalities that have previously authorized by resolution of their respective councils, the use of such funds for loans of this kind, shall be available for the purposes hereof. [2359-2.] Such loans shall be repaid in equal annual installments over a period of not to exceed five years, and the provincial treasurer shall withhold from the proceeds of tax collections of the municipality receiving the loan sufficient revenues to pay each insta llment as it falls due. [2359-1.] SECTION  2044 . Purchase of Necessaries for Payment of Laborers . — Money expendable for provincial improvements of any character may, when duly Copyright 2012 CD Technologies Asia, Inc. and Accesslaw, Inc. Philippine Law Encyclopedia 2011 604