Immediate Release) (P-63)

RECONSTRUCTION FINANCE CORPORATION

WASHINGTON

September 10, 1932

The Reconstruction Finance Corporation today, upon application of the Governor, made $250,000 available to the State of Arizona to meet current emergency relief needs. The funds were made available under Title I, Section 1, subsection (c) of the Emergency Relief and Construction Act of 1932.

It is understood that these supplementary funds may be used for either direct relief or work relief, but that whatever amount is used for work relief shall be distributed on the basis of the following general definition:

(1) The recipients of work relief and the amounts given are both determined upon the basis of actual need; (2) the funds for such relief are made available from those specifically appropriated or contributed for relief purposes; (3) the funds are used for worthwhile projects determined by the locality, which could not otherwise be undertaken at this time or in the immediate future.

In support of his application the Governor said: "I can not urge upon you and your honorable body too strongly the desperate need in the State of Arizona for this relief."

The State recently has experienced difficulty, according to the supporting data, in disposing of tax-anticipation bonds in sufficient volume to meet its fiscal needs.

Governor Hunt indicated that the funds made available by the Reconstruction Finance Corporation will be administered through the direction of a State Committee and local committees, and that every effort will be made to administer such funds in a satisfactory and effective manner.