An Act Authorizing a Loan of Six Thousand Dollars, in Money of the United States, from the Insular Treasury to the Province of La Union, to be Used for the Construction of a Road from the Municipality of San Fernando to Naguilian and Thence to the Foothills on the Trail to Baguio, in the Province of Benguet
Act No. 623, enacted on February 7, 1903, authorizes a loan of up to six thousand U.S. dollars from the Insular Treasury to the Province of La Union. The funds are designated specifically for the construction of a road and bridges from San Fernando to Naguilian and further to the foothills leading to Baguio in Benguet. The loan must be repaid within two years without interest, and the provincial government has the option to repay in local currency at the prevailing exchange rate at the time of borrowing. The act emphasizes the urgent public need for this infrastructure development and takes effect immediately upon passage.
Quick Answers
- What is An Act Authorizing a Loan of Six Thousand Dollars, in Money of the United States, from the Insular Treasury to the Province of La Union, to be Used for the Construction of a Road from the Municipality of San Fernando to Naguilian and Thence to the Foothills on the Trail to Baguio, in the Province of Benguet about?
- Act No. 623, enacted on February 7, 1903, authorizes a loan of up to six thousand U.S. dollars from the Insular Treasury to the Province of La Union. The funds are designated specifically for the construction of a road and bridges from San Fernando to Naguilian and further to the foothills leading to Baguio in Benguet. The loan must be repaid within two years without interest, and the provincial government has the option to repay in local currency at the prevailing exchange rate at the time of borrowing. The act emphasizes the urgent public need for this infrastructure development and takes effect immediately upon passage.
- What type of law is Act No. 623?
- An Act Authorizing a Loan of Six Thousand Dollars, in Money of the United States, from the Insular Treasury to the Province of La Union, to be Used for the Construction of a Road from the Municipality of San Fernando to Naguilian and Thence to the Foothills on the Trail to Baguio, in the Province of Benguet (Act No. 623) is a Philippine Statutes enacted by the Congress of the Philippines.
- When was An Act Authorizing a Loan of Six Thousand Dollars, in Money of the United States, from the Insular Treasury to the Province of La Union, to be Used for the Construction of a Road from the Municipality of San Fernando to Naguilian and Thence to the Foothills on the Trail to Baguio, in the Province of Benguet enacted?
- An Act Authorizing a Loan of Six Thousand Dollars, in Money of the United States, from the Insular Treasury to the Province of La Union, to be Used for the Construction of a Road from the Municipality of San Fernando to Naguilian and Thence to the Foothills on the Trail to Baguio, in the Province of Benguet (Act No. 623) was enacted on Feb 7, 1903.
- What is the citation for An Act Authorizing a Loan of Six Thousand Dollars, in Money of the United States, from the Insular Treasury to the Province of La Union, to be Used for the Construction of a Road from the Municipality of San Fernando to Naguilian and Thence to the Foothills on the Trail to Baguio, in the Province of Benguet?
- An Act Authorizing a Loan of Six Thousand Dollars, in Money of the United States, from the Insular Treasury to the Province of La Union, to be Used for the Construction of a Road from the Municipality of San Fernando to Naguilian and Thence to the Foothills on the Trail to Baguio, in the Province of Benguet, Act No. 623, Feb 7, 1903 (Philippines)
Law Information
- Reference Number
- Act No. 623
- Date Enacted
- Category
- Statutes
- Subcategory
- Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
February 7, 1903
ACT NO. 623
AN ACT AUTHORIZING A LOAN OF SIX THOUSAND DOLLARS, IN MONEY OF THE UNITED STATES, FROM THE INSULAR TREASURY TO THE PROVINCE OF LA UNION, TO BE USED FOR THE CONSTRUCTION OF A ROAD FROM THE MUNICIPALITY OF SAN FERNANDO TO NAGUILIAN AND THENCE TO THE FOOTHILLS ON THE TRAIL TO BAGUIO, IN THE PROVINCE OF BENGUET
SECTION 1. The Treasurer of the Philippine Archipelago is hereby authorized to loan, out of any funds in the Insular Treasury not otherwise appropriated, a sum not exceeding six thousand dollars, in money of the United States, to the provincial government of the Province of La Union, the same to be paid into the treasury of that province, and to be used solely for the construction of a road and bridges thereon from the municipality of San Fernando to Naguilian in the same province, and thence to the foothills on the trail to Baguio, in the Province of Benguet; and the provincial government of the Province of La Union is hereby authorized to borrow the money in this section mentioned. Such loan shall be repaid within two years from the date of the loan, without interest. At the option of the provincial board of the Province of La Union, the money hereby appropriated may be paid to the provincial treasurer in local currency at the rate existing at the time of making the loan, instead of in money of the United States.
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, February 7, 1903.
Cite This Law
An Act Authorizing a Loan of Six Thousand Dollars, in Money of the United States, from the Insular Treasury to the Province of La Union, to be Used for the Construction of a Road from the Municipality of San Fernando to Naguilian and Thence to the Foothills on the Trail to Baguio, in the Province of Benguet, Act No. 623, Feb 7, 1903 (Philippines)
An Act Authorizing a Loan of Six Thousand Dollars, in Money of the United States, from the Insular Treasury to the Province of La Union, to be Used for the Construction of a Road from the Municipality of San Fernando to Naguilian and Thence to the Foothills on the Trail to Baguio, in the Province of Benguet, Act No. 623 (Phil. 1903)
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