Dissolution of Existing Housing Agencies.
Section 5
SEC. 5. Dissolution of Existing Housing Agencies.—The People's Homesite and Housing Corporation (PHHC), the Presidential Assistant on Housing and Resettlement Agency (PAHRA), the Tondo Foreshore Development Authority (TFDA), the Central Institute for the Training and Relocation of Urban Squatters (CITRUS), the Presidential Committee for Housing and Urban Resettlement (PRECHUR), Sapang Palay Development Committee, Inter-Agency Task Force to Undertake the Relocation of Families in Barrio Nabacaan, Villanueva, Misamis Oriental and all other existing government housing and resettlement agencies, task forces and ad-hoc committees, are hereby dissolved. Their powers and functions, balance of appropriations, records, assets, rights, and choses in action, are transferred to, vested in, and assumed by the Authority: Provided, That an inventory and evaluation of the properties, equipment, assets, rights, choses in action, obligations and liabilities of the herein dissolved agencies shall be made by the Commission on Audit: Provided, Further, That all urban estates acquired by the Government, the Department of Agrarian Reform and the People's Homesite and Housing Corporation shall be transferred to the Authority which shall administer, develop and dispose such estates including the collection of accounts receivables therein, payment of liabilities thereon and the enforcement of choses in action pertaining to the same: Provided, Finally, That the transfers contemplated therein shall be on an estate-to-estate basis after the corresponding liquidation of each estate have been accomplished by the agency concerned in accordance with existing, auditing and accounting rules and regulations. The qualified and necessary personnel of the dissolved agencies may be transferred to and be absorbed by the Authority: Provided, That the Board of Directors of the Authority hereinafter provided, shall make personnel movement on the basis of merit and fitness in accordance with comprehensive and progressive merit system to be established by the Authority upon its organization. The Authority, through its Board, shall effect the transfer herein provided in a manner that will insure the least disruption of on-going programs and projects: Provided, That in the period prior to the actual assumption of duties by the Board and its functioning as such, all officers and employees of the abolished agencies shall continue to exercise all their functions and discharge all their duties and responsibilities until ordered otherwise by the Board of the Authority. The financial liabilities or obligations of the dissolved agencies shall be assumed by the National Government and, for the payment of such liabilities or obligations, bonds or securities may be issued by the government in such amounts sufficient to cover said liabilities or obligations, the proceeds of which are hereby appropriated for the purpose. Alternatively, said liabilities or obligations may be paid by direct appropriation which is hereby authorized in such amount as may be determined by the Commission on Audit.