An Act to Amend the Revised Administrative Code so as to Authorize Provinces with Toll Roads or Bridges Financed from Loans or Bond Issues, to Obtain Loan, without Interest and for Public Works Only, in an Amount Equivalent to Collections in Excess of that Required for the Payment of Annual Interest and Sinking Fund Charges on Said Loans or Bonds and for the Repair and Maintenance of Such Roads or Bridges
Commonwealth Act No. 96, enacted on October 27, 1936, amends the Revised Administrative Code to allow provinces in the Philippines with toll roads or bridges financed through loans or bonds to secure interest-free loans for public works. Provinces can borrow an amount equivalent to excess toll collections beyond what is needed for annual interest and sinking fund payments, as well as for the maintenance of the infrastructure. The provincial board is authorized to manage toll collections and must use the proceeds exclusively for specified financial obligations and maintenance. This Act emphasizes the importance of maintaining public infrastructure while providing financial flexibility to local governments.
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- What is An Act to Amend the Revised Administrative Code so as to Authorize Provinces with Toll Roads or Bridges Financed from Loans or Bond Issues, to Obtain Loan, without Interest and for Public Works Only, in an Amount Equivalent to Collections in Excess of that Required for the Payment of Annual Interest and Sinking Fund Charges on Said Loans or Bonds and for the Repair and Maintenance of Such Roads or Bridges about?
- Commonwealth Act No. 96, enacted on October 27, 1936, amends the Revised Administrative Code to allow provinces in the Philippines with toll roads or bridges financed through loans or bonds to secure interest-free loans for public works. Provinces can borrow an amount equivalent to excess toll collections beyond what is needed for annual interest and sinking fund payments, as well as for the maintenance of the infrastructure. The provincial board is authorized to manage toll collections and must use the proceeds exclusively for specified financial obligations and maintenance. This Act emphasizes the importance of maintaining public infrastructure while providing financial flexibility to local governments.
- What type of law is Commonwealth Act No. 96?
- An Act to Amend the Revised Administrative Code so as to Authorize Provinces with Toll Roads or Bridges Financed from Loans or Bond Issues, to Obtain Loan, without Interest and for Public Works Only, in an Amount Equivalent to Collections in Excess of that Required for the Payment of Annual Interest and Sinking Fund Charges on Said Loans or Bonds and for the Repair and Maintenance of Such Roads or Bridges (Commonwealth Act No. 96) is a Philippine Statutes enacted by the Congress of the Philippines.
- When was An Act to Amend the Revised Administrative Code so as to Authorize Provinces with Toll Roads or Bridges Financed from Loans or Bond Issues, to Obtain Loan, without Interest and for Public Works Only, in an Amount Equivalent to Collections in Excess of that Required for the Payment of Annual Interest and Sinking Fund Charges on Said Loans or Bonds and for the Repair and Maintenance of Such Roads or Bridges enacted?
- An Act to Amend the Revised Administrative Code so as to Authorize Provinces with Toll Roads or Bridges Financed from Loans or Bond Issues, to Obtain Loan, without Interest and for Public Works Only, in an Amount Equivalent to Collections in Excess of that Required for the Payment of Annual Interest and Sinking Fund Charges on Said Loans or Bonds and for the Repair and Maintenance of Such Roads or Bridges (Commonwealth Act No. 96) was enacted on Oct 27, 1936.
- What is the citation for An Act to Amend the Revised Administrative Code so as to Authorize Provinces with Toll Roads or Bridges Financed from Loans or Bond Issues, to Obtain Loan, without Interest and for Public Works Only, in an Amount Equivalent to Collections in Excess of that Required for the Payment of Annual Interest and Sinking Fund Charges on Said Loans or Bonds and for the Repair and Maintenance of Such Roads or Bridges?
- An Act to Amend the Revised Administrative Code so as to Authorize Provinces with Toll Roads or Bridges Financed from Loans or Bond Issues, to Obtain Loan, without Interest and for Public Works Only, in an Amount Equivalent to Collections in Excess of that Required for the Payment of Annual Interest and Sinking Fund Charges on Said Loans or Bonds and for the Repair and Maintenance of Such Roads or Bridges, Commonwealth Act No. 96, Oct 27, 1936 (Philippines)
Law Information
- Reference Number
- Commonwealth Act No. 96
- Date Enacted
- Category
- Statutes
- Subcategory
- Commonwealth Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
October 27, 1936
COMMONWEALTH ACT NO. 96
AN ACT TO AMEND THE REVISED ADMINISTRATIVE CODE SO AS TO AUTHORIZE PROVINCES WITH TOLL ROADS OR BRIDGES FINANCED FROM LOANS OR BOND ISSUES, TO OBTAIN LOAN, WITHOUT INTEREST AND FOR PUBLIC WORKS ONLY, IN AN AMOUNT EQUIVALENT TO COLLECTIONS IN EXCESS OF THAT REQUIRED FOR THE PAYMENT OF ANNUAL INTEREST AND SINKING FUND CHARGES ON SAID LOANS OR BONDS AND FOR THE REPAIR AND MAINTENANCE OF SUCH ROADS OR BRIDGES
SECTION 1. Section two thousand one hundred and thirty-two of the Revised Administrative Code, as amended by Act Numbered Three thousand nine hundred and sixty-five, is hereby amended to read as follows: HIETAc
"SEC. 2132. Collection and application of tolls. — In the exercise of the authority hereinabove conferred, the provincial board may erect toll gates or equip ferries and may employ the persons necessary to operate the same. The proceeds derived from such sources shall be applied only to the payment of interest and sinking fund charges in case the toll road or bridge has been financed from loans or bond issues, and to the repair and maintenance of the road, bridge or ferry for which the collections are made.
"In the event of such proceeds exceeding the amount which the province shall apply annually to the payment of interest and sinking fund charges on the said bonds and to the repair and maintenance of the road, bridge or ferry for which the collections are made, the provincial board may, subject to the approval of the Secretary of Public Works and Communications and upon such terms and conditions as he may prescribe, make a loan to the province of not to exceed ninety per centum of the excess collections, without interest and for public works only."
SECTION 2. This Act shall take effect as provided in section eleven of the Revised Administrative Code.
Approved, October 27, 1936.
Cite This Law
An Act to Amend the Revised Administrative Code so as to Authorize Provinces with Toll Roads or Bridges Financed from Loans or Bond Issues, to Obtain Loan, without Interest and for Public Works Only, in an Amount Equivalent to Collections in Excess of that Required for the Payment of Annual Interest and Sinking Fund Charges on Said Loans or Bonds and for the Repair and Maintenance of Such Roads or Bridges, Commonwealth Act No. 96, Oct 27, 1936 (Philippines)
An Act to Amend the Revised Administrative Code so as to Authorize Provinces with Toll Roads or Bridges Financed from Loans or Bond Issues, to Obtain Loan, without Interest and for Public Works Only, in an Amount Equivalent to Collections in Excess of that Required for the Payment of Annual Interest and Sinking Fund Charges on Said Loans or Bonds and for the Repair and Maintenance of Such Roads or Bridges, Commonwealth Act No. 96 (Phil. 1936)
Related Laws
- An Act to Amend Sections Twenty-One Hundred and Thirty-One and Twenty-One Hundred and Thirty-Two of Act Numbered Twenty-Seven Hundred and Eleven, Known as the Revised Administrative CodeAct No. 3965 • Dec 2, 1932 • Statutes
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- Revolving Fund for Construction of Permanent Bridges in the PhilippinesAct No. 3500 • Dec 8, 1928 • Statutes
- An Act Providing for the Establishment and Maintenance of Toll Roads and BridgesAct No. 1617 • Mar 20, 1907 • Statutes
- Authority of Iloilo Province to Issue Bonds for Construction of Cement RoadsRepublic Act No. 3077 • Jun 17, 1961 • Statutes
- An Act Making an Appropriation for Public Works and Permanent ImprovementsAct No. 2494 • Feb 5, 1915 • Statutes
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