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REPUBLIC ACTS

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REPUBLIC ACT NO. 216

REPUBLIC ACT NO. 216  - AN ACT TO AUTHORIZE THE EXPENDITURE OF THE PROCEEDS OF A LOAN NOW BEING APPLIED FOR BY THE GOVERNMENT FOR THE CONSTRUCTION OF CERTAIN HYDROELECTRIC POWER PROJECTS AND THE ERECTION OF A FERTILIZER PLANT



WHEREAS, for the purpose of giving impetus to industrial development and tod agriculture, the Government has decided to develop certain hydroelectric power projects and erect a fertilizer plant;

WHEREAS, under Republic Act Numbered Sixteen, approved September eighteen, nineteen hundred and forty-six, the President has been authorized to obtain loans for rehabilitation and economic development purposes;  

WHEREAS, it is necessary for the consideration by the Export-Import Bank of the United States or the International Bank for Reconstruction and Development or other credit institutions from which the said loan may be applied for to raise the funds needed to finance the projects above-mentioned that the Congress by law specifically appropriate the proceeds of said loan for the specific purposes for which the funds are intended: Now, therefore

Section 1.    That the proceeds of the loan of one hundred seventy-six million pesos being applied for from the credit institutions hereinabove named is hereby appropriated, if and when the same shall have been granted, for the following projects:

1.    The construction of complete
    hydroelectric power plants, including
    preliminary investigations, preparation
    of technical plans and specifications,
    acquisition of equipment, materials,
    supplies and services necessary therefor,
    building of dams, reservoirs, transmission
    systems and other accessory installations at —

(a)    Ambuklao    P48,000,000.00
(b)    Itogon    70,000,000.00
(c)    Maria Cristina    23,400,000.00

2.    The diversion of the Lumot River and
    increasing the height of the dam of the
    Caliraya reservoir    6,000,000.00

3.    The erection and construction of a
    fertilizer plant    28,600,000.00
    Total    P176,000,000.00

Sec. 2.    This Act shall take effect upon its approval.  

Approved: June 1, 1948

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