An Act Amending Paragraph (e) of Section Twenty-One of Act Numbered Eighty-Two, Known as "The Municipal Code," As Amended, so as to Authorize the Deposit of Municipal Funds by Any Municipality in Any Duly Authorized Depository of the Government of the Philippine Islands Located in Such Municipality
Act No. 1611, enacted on March 14, 1907, amends the Municipal Code (Act No. 82) to authorize municipalities in the Philippines to deposit their funds in any government-authorized depository located within their jurisdiction. The amendment allows the municipal treasurer to make such deposits upon a resolution from the municipal council, which must be approved by the provincial treasurer and the Executive Secretary. The resolution must specify the deposit period and details regarding interest, if applicable. This act was expedited for immediate effect upon passage.
Law Information
- Reference Number
- Act No. 1611
- Date Enacted
- Category
- Statutes
- Subcategory
- Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
March 14, 1907
ACT NO. 1611
AN ACT AMENDING PARAGRAPH (E) OF SECTION TWENTY-ONE OF ACT NUMBERED EIGHTY-TWO, KNOWN AS "THE MUNICIPAL CODE," AS AMENDED, SO AS TO AUTHORIZE THE DEPOSIT OF MUNICIPAL FUNDS BY ANY MUNICIPALITY IN ANY DULY AUTHORIZED DEPOSITORY OF THE GOVERNMENT OF THE PHILIPPINE ISLANDS LOCATED IN SUCH MUNICIPALITY
SECTION 1. Paragraph (e) of section twenty-one of Act Numbered Eighty-two known as "The Municipal Code," as amended, is hereby further amended by adding at the end thereof the following proviso: AHDacC
"PROVIDED, That the treasurer of any municipality, when specially authorized by resolution of the municipal council and upon the approval of the provincial treasurer and the Executive Secretary, may deposit the funds of the municipality in any duly authorized depository of the Government of the Philippine Islands situated within the municipality. The resolution of the council authorizing any such deposit or deposits shall set forth clearly the period for which the same shall be made, whether with or without interest, and if with interest, the rate thereof."
SECTION 2. The public good requiring the speedy enactment of this bill, the passage of the same is hereby expedited in accordance with section two of "An Act prescribing the order of procedure by the Commission in the enactment of laws," passed September twenty-sixth, nineteen hundred.
SECTION 3. This Act shall take effect on its passage.
ENACTED, March 14, 1907.
Cite This Law
An Act Amending Paragraph (e) of Section Twenty-One of Act Numbered Eighty-Two, Known as "The Municipal Code," As Amended, so as to Authorize the Deposit of Municipal Funds by Any Municipality in Any Duly Authorized Depository of the Government of the Philippine Islands Located in Such Municipality, Act No. 1611, Mar 14, 1907 (Philippines)
An Act Amending Paragraph (e) of Section Twenty-One of Act Numbered Eighty-Two, Known as "The Municipal Code," As Amended, so as to Authorize the Deposit of Municipal Funds by Any Municipality in Any Duly Authorized Depository of the Government of the Philippine Islands Located in Such Municipality, Act No. 1611 (Phil. 1907)
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