Transitory provisions.
Section 81
SEC. 81. Transitory provisions.—The local governments shall have one year from the date of effectivity of this Decree to change the form of their annual and supplemental budgets from the line-item type to the form and contents provided for in Section 16, Article I, of Chapter III of this Decree and to establish the Infrastructure Fund created under Section 7, Article I, of Chapter II hereof. Upon the establishment of the Infrastructure Fund herein provided, the road and bridge funds of provinces, cities and municipalities and the permanent public improvement funds of municipalities shall be deemed ipso facto abolished, and all assets, resources, liabilities, surplus and deficits of the funds herein abolished are hereby automatically transferred to the Infrastructure Fund. An incumbent provincial, city or municipal treasurer, assistant treasurer, or administrative deputy who does not possess the educational requirements herein provided may be promoted to the next higher position or higher class of province, city or municipality, as the case may be: Provided, however, That he has the necessary experience that may be substituted for every year he lacks in college education and for such other qualifications as may be prescribed by the Secretary of Finance: And provided, further, That five years after the effectivity of this Decree, no person shall be appointed Provincial or City Treasurer, Assistant Provincial or City Treasurer, Administrative Deputy, Municipal Treasurer, or Assistant Municipal Treasurer unless he possesses the educational qualifications prescribed under this Decree. Nothing herein shall be construed as depriving any provincial, city or municipal treasurer, or assistant treasurer, or administrative deputy of his right to continue to hold office or withdrawing or reducing his benefits and privileges as provided for under existing laws.