Rural Waterworks Development Corporation (RWDC)

July 17, 1985 FIRB RESOLUTION NO. 048-85 SUBJECT : Rural Waterworks Development Corporation ( RWDC ) BE IT RESOLVED, AS IT IS HEREBY RESOLVED, That: 1. Effective June 11, 1984, the tax and duty exemption privileges enjoyed by the Rural Waterworks Development Corporation under EO 577, as amended by EO 869, and withdrawn by PD 1931 are restored up to June 30, 1985. 2. The restoration of the tax and duty exemption privileges does not, however, apply to the following: a. commercially-funded importations; and b. interest income derived from bank deposits and yield or any other monetary benefit from deposit substitutes and from trust fund and similar arrangements. 3. In the case of importations funded by international financing agreements, the RWDC is hereby required to furnish the FIRB on a periodic basis the particulars of items received or to be received through such arrangements and other information as may be required, for purposes of tax and duty exemption privileges. (SGD.) ALFREDO PIO DE RODA, JR. Acting Minister of Finance Acting Chairman, FIRB