Construction and Development of Family Size Fishpond.
Section 14
SEC. 14. Construction and Development of Family Size Fishpond. — For the purpose of accelerating the development of fishponds, the Bureau, subject to the approval of the Council, shall identify public lands which shall be subdivided into economic family size fishponds. The area of a family size fishpond shall be determined by the Council with due consideration to the fertility of the land: Provided, That such fishponds shall be leased only according to the priority herein provided: Landless and poor families living in the vicinity, town and province wherein the fishponds are located; Qualified graduates of fisheries schools; and Landless veterans. Persons in the above categories with at least one year experience in fishpond operation shall be given preference. All beneficiaries of family size fishponds shall form a selda, cooperative or association for the efficient management of the operations of the area. Each beneficiary shall be given a loan equivalent to P5,000.00 per hectare without collateral under a Supervised Credit Scheme and under terms and conditions to be prescribed by the Council. For the above purpose, the sum of thirty million pesos is hereby appropriated, out of any funds in the National Treasury not otherwise appropriated, for each of the first two fiscal years after passage of this Decree and twenty million pesos every year for ten years thereafter to finance the construction and development of family size fishponds.