An Act Providing for the Loan of Three Thousand Pesos, Philippine Currency, in Minor Coins, to the Province of Ilocos Sur
Act No. 1006, enacted on November 25, 1903, authorizes a loan of three thousand pesos in minor coins to the Province of Ilocos Sur to enhance the circulation of such coins in the region. The funds will be disbursed to the provincial treasurer upon receipt of a certified resolution from the provincial board agreeing to the loan terms, which include a repayment period of six months without interest. The Act emphasizes the urgency of the matter and allows for expedited passage in accordance with existing legislative procedures. It takes effect immediately upon passage.
Law Information
- Reference Number
- Act No. 1006
- Date Enacted
- Category
- Statutes
- Subcategory
- Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
November 25, 1903
ACT NO. 1006
AN ACT PROVIDING FOR THE LOAN OF THREE THOUSAND PESOS, PHILIPPINE CURRENCY, IN MINOR COINS, TO THE PROVINCE OF ILOCOS SUR
SECTION 1. There is hereby appropriated, out of any funds in the Insular Treasury not otherwise appropriated, the sum of three thousand pesos, Philippine currency, in minor coins, to be loaned to the Province of Ilocos Sur for the purpose of facilitating and securing an immediate circulation of minor Philippine coins in that province. The money so appropriated shall be paid to the treasurer of the Province of Ilocos Sur in minor coins upon the production by him to the Treasurer of the Philippine Islands of a certified copy of a resolution of the provincial board of the Province of Ilocos Sur accepting such loan and agreeing to repay the same, without interest, within the period of six months from date of the passage of this Act.
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, November 25, 1903.
Cite This Law
An Act Providing for the Loan of Three Thousand Pesos, Philippine Currency, in Minor Coins, to the Province of Ilocos Sur, Act No. 1006, Nov 25, 1903 (Philippines)
An Act Providing for the Loan of Three Thousand Pesos, Philippine Currency, in Minor Coins, to the Province of Ilocos Sur, Act No. 1006 (Phil. 1903)
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