Preamble
WHEREAS, it is the policy of government to undertake national development within its total context; WHEREAS, local governments are vital components of the government's machinery for national development; WHEREAS, local government's resources constitute a significant portion of the total development resources of government; and WHEREAS, the Budget Commission is entrusted with the responsibility of assisting the President in the preparation of the total national resources and expenditures budget, which includes, among others, those for local governments: NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby order and decree: