Establishment of the Agrarian Reform Fund.
Section 1
SECTION 1. Establishment of the Agrarian Reform Fund. — An Agrarian Reform Fund, hereinafter referred to as the "Fund," is hereby established to finance and/or guaranty the payment of farm lots acquired under Proclamation No. 27, dated October 21, 1972, and to extend agricultural credit support and the corresponding guarantee coverage to achieve a high level of production in land reform areas of the country. The resources of the Fund shall be drawn from the following: Central Bank of the Philippines a. Bonds in Portfolio Guarantee Funds a. Agricultural Guarantee Fund b. Agricultural Guarantee & Loan Fund c. CB-Loan Guarantee Fund (Calamity Fund) Development Bank of the Philippines a. Preferred shares in client corporations b. Government-counterpart preferred stocks in rural banks c. Preferred stocks in development banks d. Acquired assets e. Reparations Account Receivables f. Other disposable assets Philippine National Bank a. Acquired assets National Investment and Development Corporation a. Acquired assets Government Service Insurance System a. Acquired assets Land Bank a. Shares of stock owned or controlled by the Government Agrarian Reform Special Account a. Allocation for Agricultural Guarantee Fund and Land Bank Proceeds from foreign loans Social Security System a. Acquired assets Other disposable assets of the Government as may be available for the land reform program. Other funds and resources provided by law. The resources listed above shall be turned over to the Agrarian Reform Fund at such time, terms, prices and conditions as shall be agreed upon between the Agrarian Reform Fund Commission and the financial institution and government agencies concerned, payment to be made by the former to latter in Agrarian Reform Bonds issued pursuant to