Act No. 2791 Section 1

Section 1

SECTION 1. Authority is hereby granted to regular and special provinces and municipalities, including those of the Department of Mindanao-Sulu, and to townships and any other branches or subdivisions of the Government of the Philippine Islands, whenever necessary, and subject to the approval of the proper Department Head, to contract indebtedness in the shape of loans from the Insular Government, the Philippine National Bank, and any other bank or banking institution authorized for this purpose; but no loan shall be contracted except to raise funds for permanent public improvements.

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Other provisions in Act No. 2791

Section 2

Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗ · Data as of July 4, 2026

CitationAct No. 2791 Section 1 (LawPlayer, data as of July 4, 2026)

Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).

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