Funds for the Development of Hydraulic Power and Establishment of a Hydraulic Power Plant in Maria Cristina Falls, Lanao
Commonwealth Act No. 700, approved on November 1, 1945, appropriates ten million pesos for the development of hydraulic power from the Maria Cristina Falls in Lanao. The funds will be used for the construction, operation, and maintenance of a hydraulic power plant, managed by the National Power Corporation in compliance with existing laws. This amount is considered a loan to the Corporation, which must repay it to the National Treasury according to specified guidelines. The release of the appropriated funds is contingent on certification of available resources by the Secretary of Finance and the Auditor General. The Act takes effect upon its approval.
Quick Answers
- What is Funds for the Development of Hydraulic Power and Establishment of a Hydraulic Power Plant in Maria Cristina Falls, Lanao about?
- Commonwealth Act No. 700, approved on November 1, 1945, appropriates ten million pesos for the development of hydraulic power from the Maria Cristina Falls in Lanao. The funds will be used for the construction, operation, and maintenance of a hydraulic power plant, managed by the National Power Corporation in compliance with existing laws. This amount is considered a loan to the Corporation, which must repay it to the National Treasury according to specified guidelines. The release of the appropriated funds is contingent on certification of available resources by the Secretary of Finance and the Auditor General. The Act takes effect upon its approval.
- What type of law is Commonwealth Act No. 700?
- Funds for the Development of Hydraulic Power and Establishment of a Hydraulic Power Plant in Maria Cristina Falls, Lanao (Commonwealth Act No. 700) is a Philippine Statutes enacted by the Congress of the Philippines.
- When was Funds for the Development of Hydraulic Power and Establishment of a Hydraulic Power Plant in Maria Cristina Falls, Lanao enacted?
- Funds for the Development of Hydraulic Power and Establishment of a Hydraulic Power Plant in Maria Cristina Falls, Lanao (Commonwealth Act No. 700) was enacted on Nov 1, 1945.
- What is the citation for Funds for the Development of Hydraulic Power and Establishment of a Hydraulic Power Plant in Maria Cristina Falls, Lanao?
- Funds for the Development of Hydraulic Power and Establishment of a Hydraulic Power Plant in Maria Cristina Falls, Lanao, Commonwealth Act No. 700, Nov 1, 1945 (Philippines)
Law Information
- Reference Number
- Commonwealth Act No. 700
- Date Enacted
- Category
- Statutes
- Subcategory
- Commonwealth Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
November 1, 1945
COMMONWEALTH ACT NO. 700
AN ACT APPROPRIATING THE SUM OF TEN MILLION PESOS FOR THE DEVELOPMENT OF HYDRAULIC POWER FROM THE MARIA CRISTINA FALLS, PROVINCE OF LANAO, AND FOR THE CONSTRUCTION, OPERATION, AND MAINTENANCE OF HYDRAULIC POWER PLANT THEREIN
SECTION 1. The sum of ten million pesos, or so much thereof as may be necessary, is hereby appropriated out of any funds in the National Treasury not otherwise appropriated, for the development of hydraulic power from the Maria Cristina Falls, Province of Lanao, and for the construction, operation, and maintenance of a hydraulic power plant in the said falls. cAEDTa
SECTION 2. All work of construction, operation, and maintenance of the hydraulic power plant authorized by this Act shall be carried out by the National Power Corporation in accordance with the provisions of Commonwealth Act Numbered One hundred and twenty as amended.
SECTION 3. The sum herein appropriated shall be deemed a loan extended by the Government to the National Power Corporation and shall be reimbursed to the National Treasury in the manner prescribed in the proviso of section eleven of Commonwealth Act Numbered One hundred and twenty as amended.
SECTION 4. The amount herein appropriated shall not be released unless and until the Secretary of Finance and the Auditor General shall have certified to the President that there are existing and available funds in the National Treasury in excess of the sums appropriated in the General Appropriation Law for the fiscal year ending June thirtieth, nineteen hundred and forty-six, and the priority appropriations established by law: Provided, That the President may order the release in full or in installments of the funds herein authorized as the Secretary of Finance and the Auditor General may certify to their existence and availability.
SECTION 5. This Act shall take effect upon its approval.
Approved, November 1, 1945.
Cite This Law
Funds for the Development of Hydraulic Power and Establishment of a Hydraulic Power Plant in Maria Cristina Falls, Lanao, Commonwealth Act No. 700, Nov 1, 1945 (Philippines)
Funds for the Development of Hydraulic Power and Establishment of a Hydraulic Power Plant in Maria Cristina Falls, Lanao, Commonwealth Act No. 700 (Phil. 1945)
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