FSDC AUTHORITIES, POWERS AND DIRECTIVES.
Section 4
SEC. 4. FSDC AUTHORITIES, POWERS AND DIRECTIVES.— The FSDC is hereby authorized, empowered and directed to promote the organization of, and assist farmer-associations particularly irrigation associations to the end of achieving the objectives of hastening rural development, and for such purpose it is hereby, without limiting the generality of the foregoing and in addition to their authorization, powers and directives established by this Decree, specifically authorized, empowered and directed: a) to have a continuous succession under its corporate name otherwise provided by law; b) to prescribe and thereafter to amend and repeal its By-Laws not inconsistent with this Decree; c) to adopt and use a seal and alter it at its pleasure; d) to sue and be sued; e) to make contract of every name and nature and to execute all instruments necessary or convenient for the carrying on of its business; f) to make loans to irrigation or related associations for the construction or acquisition, operation and maintenance of irrigation systems and all related farm properties such as equipment, machinery, fixtures and materials. And thereafter, to make loans for the restoration, improvement or enlargement of such facilities; g) to assist irrigation-based associations and coordinate with government agencies and corporations having related functions and purposes in planning, developing, establishing, operating, maintaining, repairing and renovating association's facilities and systems; h) to prepare feasibility studies, engineering plans for integrating farm-based systems development including the procurement of modern and improved facilities, devices and accessory equipment; i) to provide managerial or administrative expertise including the rendering of professional training services for association's staff and employee development; j) to cooperate, coordinate and exchange such information, studies and reports with and to seek such cooperation and coordination from other departments, agencies and instrumentalities of the National Government including the National Irrigation Administration (NIA), the National Grains Authority (NGA), the National Electrification Administration (NEA), the Development Academy of the Philippines (DAP), and the National Power Corporation (NPC), as well most effectively conduce to the achievement of the purposes of this Decree; k) to borrow funds from any source, private or government, foreign or domestic, and to issue bonds or other evidence of indebtedness; l) to appoint, through its Board of Administrators, such officers and employees as are not otherwise provided in this Decree, to define their duties, fix their compensation, and require bonds of them; m) to acquire, by purchase or otherwise, real and personal properties as may be required, advisable or desirable for the proper conduct of its business; n) to prescribe rules and regulations in which its general business may be conducted as well as to fix and implement terms and conditions of loans for irrigation and related activities; o) to establish branch offices; p) to invest its funds or other assets in such undertaking as it may deem wise or necessary to carry out its purposes and objectives; q) to report to the President at least annually, not later than June 30, and when the same comes into existence, the Prime Minister and the National Assembly on the status of its operation in the Philippines including a comprehensive reporting of loans made advanced, leans secured from other sources and the advance thereof, the names and locations of the borrowers, the number of farmers receiving service as a result of such loans; r) to do and perform any other acts and things, and to have and exercise any other powers which may be necessary, incidental or appropriate to accomplish the purpose for which the FSDC is organized.