A
collection of Philippine laws, statutes and codes
not
included or cited in the main
indices
of
the
Chan Robles Virtual Law Library
PRESIDENTIAL DECREE NO. 808
PRESIDENTIAL DECREE NO. 808
- AMENDING PRESIDENTIAL DECREE NO. 393 BY APPROPRIATING THE BALANCE OF
P18,761,828.58 OF THE FUNDS PREVIOUSLY APPROPRIATED FOR AMORTIZATION OF
HEAVY EQUIPMENT PROCURED UNDER THE DEFERRED PAYMENT PLAN AND GUARANTEED
BY THE PHILIPPINE NATIONAL BANK
|
chanroblesvirtualawlibrary
WHEREAS,
Presidential Decree No. 393 appropriated the sum of P185 Million out of
the funds for rehabilitation, improvement and betterment of the
Highways Special Fund for use exclusively for the liquidation of the
obligation of the Bureau of Public Highways to the Philippine National
Bank in connection with the purchase of heavy construction equipment
under the Deferred Payment Plan;chanroblesvirtualawlibrary
WHEREAS, after liquidating the obligation of the Bureau of Public
Highways to the Philippine National Bank in connection with these
purchases of construction equipment under the Deferred Payment Plan,
there still remains a balance of P18,761,828.58 of the total amount
previously appropriated; chanroblesvirtualawlibrary
WHEREAS, aside from the obligation of the Bureau of Public Highways to
the Philippine National Bank in connection with the purchase of heavy
equipment under the Deferred Payment Plan, the Department of Public
Highways has also other outstanding obligations with the Philippine
National Bank;chanroblesvirtualawlibrary
WHEREAS, in order to enable the Department of Public Highways to
liquidate these other outstanding obligations, it is necessary to
provide the necessary funds;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. Section 1 of Presidential Decree No. 393
entitled, "Appropriating the sum of one hundred eighty-five million
pesos from the funds for rehabilitation, improvement and betterment of
the highway special fund for the amortization of heavy construction
equipment previously procured under the deferred payment plan," is
hereby amended to read as follows:cralaw:red
"Sec. 1. The provisions of any existing law, decree,
letter of instructions, rule or regulation to the contrary
notwithstanding, the sum of one hundred eighty-five million pesos
(P185,000,000.00) is hereby appropriated out of the funds for
Rehabilitation, Improvement and Betterment of the Highway Special Fund
to be used exclusively for the liquidation of the obligation of the
Bureau of Public Highways to the Philippine National Bank in connection
with the purchase of heavy construction equipment under the deferred
payment plan, Provided: That any balance of the original amount
appropriated hereunder existing after the obligation aforementioned has
been paid shall be used to liquidate other outstanding obligations of
the defunct Bureau with the Philippine National Bank."
Section 2. This Decree shall take effect immediately.
DONE in the City of Manila,
this 13th day of October, in the year of Our Lord, nineteen hundred and
seventy-five.
|
Back
to Home
- Back
to Main
chanroblesvirtuallawlibrary
Since 19.07.98
|