Light Rail Transit Authority (2)

March 13, 1995 FIRB RESOLUTION NO. 009-95 SUBJECT : Light Rail Transit Authority (2) BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to renew the subsidy availment previously granted in favor of the Light Rail Transit Authority, pursuant to FIRB Resolution No. 22-94 (Granting subsidy availment to the Light Rail Transit Authority in the amount of P58 . 03 million only , of which P26.017 million pertains to taxes and duties due on its importations of regular operating and maintenance materials; and P32.014 million for taxes and duties on equipment and spare parts, for the on-going rehabilitation program of its light rail transit system): Provided , That the amount of subsidy to be available to the subject beneficiary shall be limited only to the unutilized portion of the subsidy availment previously granted thereto: Provided , further That new applications by such subject beneficiary shall not be acted upon by the FIRB until the renewed tax subsidy herein shall have been fully utilized by it: Provided , furthermore , That such availment shall be in accordance with the terms and conditions of Section 12 of the 1995 General Appropriations Act, subject to the availability of funds therefor, pursuant to the terms and conditions of the Rules and Regulations to Implement the Subsidy Provision Under Executive Order No. 93. aisadc (SGD.) JUANITA D. AMATONG Undersecretary of Finance Presiding Officer FIRB References : FIRB Technical Committee meeting dated March 2, 1995 FIRB meeting dated March 10, 1995 Amount Renewed P15 . 21 million only