Presidential Decree No. 808 (PD 808) — Amending Presidential Decree No. 393 by Appropriating the Balance of P18,761,828.58 of the Funds Previously Appropriated for Amortization of Heavy Equipment Procured Under the Deferred Payment Plan and Guaranteed by the Philippine National Bank.
WHEREAS, Presidential Decree No. 393 appropriated the sum of
P185 Million out of the funds for rehabilitation, improvement and
betterment of the Highways Special Fund for use exclusively for the
liquidation of the obligation of the Bureau of Public Highways to the
Philippine National Bank in connection with the purchase of heavy
construction equipment under the Deferred Payment Plan;
WHEREAS, after liquidating the obligation of the Bureau of
Public Highways to the Philippine National Bank in connection with these
purchases of construction equipment under the Deferred Payment Plan,
there still remains a balance of P18,761,828.58 of the total amount
previously appropriated;
WHEREAS, aside from the obligation of the Bureau of Public
Highways to the Philippine National Bank in connection with the purchase
of heavy equipment under the Deferred Payment Plan, the Department of
Public Highways has also other outstanding obligations with the
Philippine National Bank;
WHEREAS, in order to enable the Department of Public
Highways to liquidate these other outstanding obligations, it is
necessary to provide the necessary funds;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the
Philippines, by virtue of the powers in me vested by the Constitution,
do hereby decree and order:
SECTION 1. Section 1 of Presidential Decree No.
393 entitled, "Appropriating the sum of one hundred eighty-five million
pesos from the funds for rehabilitation, improvement and betterment of
the highway special fund for the amortization of heavy construction
equipment previously procured under the deferred payment plan," is
hereby amended to read as follows:
"SECTION 1. The provisions of any existing law, decree,
letter of instructions, rule or regulation to the contrary
notwithstanding, the sum of one hundred eighty-five million pesos
(P185,000,000.00) is hereby appropriated out of the funds for
Rehabilitation, Improvement and Betterment of the Highway Special Fund
to be used exclusively for the liquidation of the obligation of the
Bureau of Public Highways to the Philippine National Bank in connection
with the purchase of heavy construction equipment under the deferred
payment plan, Provided: That any balance of the original amount
appropriated hereunder existing after the obligation afore-mentioned has
been paid shall be used to liquidate other outstanding obligations of
the defunct Bureau with the Philippine National Bank."
SEC. 2. This Decree shall take effect immediately.
Done in the City of Manila, this 13th day of October, in the
year of Our Lord, nineteen hundred and seventy-five.
(Sgd.)
FERDINAND E. MARCOS
President
Republic of the Philippines
By the President:
(Sgd.)
ROBERTO V. REYES
Acting Executive Secretary
Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).
