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PRESIDENTIAL DECREE NO. 1005
PRESIDENTIAL DECREE NO. 1005 -
REPEALING REPUBLIC ACT NUMBERED THREE THOUSAND SEVEN HUNDRED AND
FORTY-ONE AUTHORIZING THE CONSTRUCTION OF SELF-LIQUIDATING PUBLIC
IMPROVEMENTS BY PRIVATE PERSONS, OTHERWISE KNOWN AS THE PRIVATE
FINANCING LAW
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WHEREAS,
Part X of the Integrated Reorganization Plan provides that the
reorganized Department of Public Works, Transportation and
Communications shall be the principal government agency responsible for
providing the infrastructure and physical base to adequately support
sustained developmental effort and economic growth; chanroblesvirtualawlibrary
WHEREAS, the issuance of Presidential Decree No. 458, creating the
Department of Public Highways, further strengthens the public works
functions of the Government in order to increase the production of
physical infrastructure facilities of the country; and chanroblesvirtualawlibrary
WHEREAS, the undertaking of government projects under the Private
Financing Law might distort the national government priority pattern
since the overriding consideration under this law is the
self-liquidating character of the project rather than its social and
economic contribution to the country;chanroblesvirtualawlibrary
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers in me vested by the Constitution, do hereby
decree and order:cralaw:red
Section 1. Republic Act Numbered Three Thousand Seven
Hundred Forty-One is hereby repealed: Provided, however, that toll
collection on public works projects, and the participation of the
private sector in the construction, operation, and maintenance of
public works projects may still continue under existing laws. chanroblesvirtualawlibrary
Section 2. The Secretary of Finance, the Secretary
of Public Works, Transportation and Communications and the Secretary of
Public Highways are hereby authorized to promulgate and issue
implementing rules for the orderly liquidation and turn-over to the
Government of any existing contract already entered into between the
government and private contractors for public works projects undertaken
in accordance with Republic Act Numbered Three Thousand Seven Hundred
and Forty-One, together with reasonable compensation schedules for
such, derived from tolls and fees as the Contractor shall be entitled
for the return of his capital plus interest; Provided, That pending the
liquidation and turn-over, the contractor shall continue to collect
reasonable tolls or fees for the use of bridges, highways or roads.
Done in the City of Manila,
this 22nd day of September, in the year of Our Lord, nineteen hundred
and seventy-six.
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