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REPUBLIC ACT NO. 1298 - AN
ACT AUTHORIZING THE CONSTRUCTION OF THE MARIKINA MULTI-PURPOSE PROJECT,
AUTHORIZING THE MARIKINA PROJECT COORDINATING COMMITTEE TO SERVE AS THE
IMPLEMENTING AGENCY OF THIS PROJECT, AUTHORIZING FINANCING BY ENTITIES
CONCERNED OF THEIR SHARE OF THE COST OF THIS PROJECT; AND AUTHORIZING
THE CONSTRUCTION OF THE ILOG RIVER MULTI-PURPOSE PROJECT, AND
FERTILIZER PLANT, AND FINANCING OF THE SAME, AFTER THE COMPLETION OF
THE NECESSARY INVESTIGATION AND STUDY OF THESE PROJECTS, AND FOR OTHER
PURPOSES |
Section 1. The
construction of the Marikina River Multi-Purpose Project is hereby
authorized for the following purposes: To regulate and control floods
caused by the Marikina River; to provide storage of the flow of the
Marikina River and the use of such stored waters for the irrigation of
agricultural lands in the Marikina Valley; the increase of the
industrial and municipal water supply of Manila and its environs; and
the generation and transmission of electric power and
energy.
Sec. 2. The irrigation and flood control phases of this multi-purpose project shall be handled by the Bureau of Public Works; the water supply phase by the Metropolitan Water District; and the power phase by the National Power Corporation. Each of these entities shall be responsible for the construction and subsequent operation of the works under their respective jurisdictions, subject to coordination provided for in section three hereof.cralaw
Sec. 3. (a) For the proper coordination of the
activities of the different entities concerned in this project, the
Marikina Project Coordinating Committee created under Administrative
Order Numbered Two hundred sixteen of September twenty-nine, nineteen
hundred and fifty-three is hereby authorized to serve as the
implementing agency of this project. This Committee shall have charge
of applications for funds and their allocation to the respective
agencies. Where dollar assistance is made available by the FOA to the
Marikina River Multi-Purpose Project, the Coordinating Committee is
authorized to make, from available economic development bond funds,
peso deposits into the Counterpart Fund — Special Account in amounts
commensurate with the value of the dollar commodities procured for the
project.cralaw
Sec. 4. (a) The National Power Corporation and the
Metropolitan Water District are hereby authorized to secure loans from
financing institutions or construction corporations for the dollar
funds needed to finance their share of foreign currency requirements of
the project, and the Philippine Government shall guarantee repayment of
these loans.cralaw Sec. 5. The construction of the Ilog River Multi-Purpose Project and a Fertilizer Plant, upon completion of the necessary investigation and design of these projects, is also hereby authorized for the following purposes: To regulate and control floods caused by the Ilog River; to provide storage of the flow of the Ilog River and the use of such stored water for the irrigation of agricultural lands in the vicinity of this river; and the generation and transmission of electric power and energy for the fertilizer plant; and for the manufacture of fertilizer.cralaw Sec. 6. The irrigation and flood control phases of this multi-purpose project shall be handled by the Bureau of Public Works; and the power phase by the National Power Corporation. Each of these entities shall be responsible for the construction and subsequent operation of the works under their respective jurisdictions, subject to coordination provided for in section seven hereof. The construction and subsequent operation of the Fertilizer Plant shall be the sole responsibility of the National Power Corporation.cralaw Sec. 7. For the proper coordination of the activities of the different entities concerned in the Ilog River Multi-Purpose Project, the Multi-Purpose Committee created under Administrative Order Numbered Sixty-five of September twenty-seven, nineteen hundred fifty-four is hereby authorized to serve as the implementing agency of this project. Sec. 8. (a) The National Power Corporation is
hereby authorized to secure loans from financing institutions or
construction corporations for the dollar funds needed to finance its
share of foreign currency requirements of the Ilog River Multi-Purpose
Project, and of the Fertilizer Plant.
Sec. 9. This Act shall take effect upon its
approval.cralaw Approved: June 16, 1955 |