Light Rail Transit Authority (2)

May 18, 1995 FIRB RESOLUTION NO. 025-95 SUBJECT : Light Rail Transit Authority (2) BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to amend the scope of the subsidy availment previously renewed in favor of the Light Rail Transit Authority, pursuant to FIRB Resolution No. 9-95 (Renewing the subsidy availment previously granted to the Light Rail Transit Authority, pursuant to FIRB Resolution No. 22-94, in the amount of P58 . 03 million only , but only up to the extent of the unused balance thereof in the amount of P15 . 21 million only , of which P11 . 195 million pertains to taxes and duties due on its importations of regular operating and maintenance materials; and P4 . 015 million for taxes and duties on equipment and spare parts, for the on-going rehabilitation program of its light rail transit system), as follows: P5 . 486 million to pertain to taxes and duties due on its importations of regular operating and maintenance materials; and P9 . 724 million to pertain to taxes and duties on equipment and spare parts, for the on-going rehabilitation program of its light rail transit system; Provided , 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 , further , 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 Subject Matter : LIGHT RAIL TRANSIT AUTHORITY (2) Reference : FIRB meeting dated May 17, 1995