An Act Appropriating One Hundred Thousand Pesos from the Congressional Relief Fund to be Loaned under Certain Conditions to the Provinces and Municipalities of the Philippine Islands for Public Works
Act No. 1666, enacted on July 2, 1907, appropriates 100,000 pesos from the Congressional Relief Fund for loans to provinces and municipalities in the Philippines, aimed at funding public works such as bridges, wells, and government buildings. The loans will carry a 4% annual interest rate and must be guaranteed in writing by the provincial board or municipality receiving the loan. Repayment will be deducted from local revenues, with loans of two years or longer requiring annual installment payments. The Act emphasizes the urgency of its implementation and takes effect immediately upon passage.
Law Information
- Reference Number
- Act No. 1666
- Date Enacted
- Category
- Statutes
- Subcategory
- Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
July 2, 1907
ACT NO. 1666
AN ACT APPROPRIATING ONE HUNDRED THOUSAND PESOS FROM THE CONGRESSIONAL RELIEF FUND TO BE LOANED UNDER CERTAIN CONDITIONS TO THE PROVINCES AND MUNICIPALITIES OF THE PHILIPPINE ISLANDS FOR PUBLIC WORKS
SECTION 1. There is hereby appropriated, out of the Congressional relief fund in the Insular Treasury not otherwise appropriated, or which may hereafter become available for appropriation, the sum of one hundred thousand pesos, to be loaned under the direction of the Governor-General at an annual interest of four per centum to the various provinces and municipalities of the Philippine Islands for the purpose of constructing artesian wells, bridges, municipal government office buildings, markets, slaughterhouses, ferries and public works of a permanent, character: PROVIDED, That the provincial board of any province to which a loan is made or to any municipality of which a loan is made, under authority of this Act, shall guarantee in writing the repayment of the loan, and the provincial treasurer is hereby authorized and directed to deduct from the revenues of the province or municipality, as the case may be, the amount due on such loan and deposit the same in the Insular Treasury. Loans made under authority of this Act for a period of two years or more shall be repaid in annual installments. caITAC
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. ICHDca
ENACTED, July 2, 1907.
Cite This Law
An Act Appropriating One Hundred Thousand Pesos from the Congressional Relief Fund to be Loaned under Certain Conditions to the Provinces and Municipalities of the Philippine Islands for Public Works, Act No. 1666, Jul 2, 1907 (Philippines)
An Act Appropriating One Hundred Thousand Pesos from the Congressional Relief Fund to be Loaned under Certain Conditions to the Provinces and Municipalities of the Philippine Islands for Public Works, Act No. 1666 (Phil. 1907)
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