WHEREAS, in
the spirit of further promoting the ties of Friendship and mutual
understanding between the Republic of the Philippines and the Republic
of Indonesia;chanroblesvirtualawlibrary
WHEREAS, on 29 July 1971 and Agreement was concluded between the
Republic of the Philippines and the Republic of Indonesia for the
settlement of certain claims in the amount of US$800,000;chanroblesvirtualawlibrary
WHEREAS, the Philippine National Bank has agreed to provide $400,000 in
partial settlement of the claims;chanroblesvirtualawlibrary
WHEREAS, it is necessary that the balance of $400,000 must be provided
to fully settle these claims;chanroblesvirtualawlibrary
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers vested in me by the Constitution as
Commander-in-Chief of all the Armed Forces of the Philippines, and
pursuant to Proclamation No. 1081 dated September 21, 1972, and General
Order No. 1 dated September 22, 1972, as amended do, hereby appropriate
the peso equivalent of $400,000 out of any fund in the National
Treasury not otherwise appropriated to carry out the purpose of this
Decree, Provided, That this appropriation shall be available for the
payment of commodities for export to Indonesia in accordance with
above-mentioned Agreement.
The Philippine National Bank is hereby entrusted with the disbursement
of the amount herein appropriated subject to the usual auditing
regulations.
This Decree shall become effective immediately upon its promulgation.
Done in the City of Manila,
this 6th day of May, in the year of Our Lord, nineteen hundred and
seventy-three.
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