Operating expenses.
Section 8
SEC. 8. Operating expenses.—-For the operating expenses of the Authority for the fiscal year nineteen hundred sixty-four and sixty five, the sum of five hundred thousand pesos is hereby authorized to be appropriated, out of any general fund in the National Treasury not otherwise appropriated. For the succeeding fiscal years, the Board of Directors may appropriate out of the Authority's paid-in capital a sum not exceeding one million pesos during each fiscal year for operating expenses and a standing annual appropriation is hereby made out of the general fund in the National Treasury of such sum as may be necessary to reimburse the authority of the total amount actually expended out of the said one million pesos for overhead expenses at the end of each fiscal year, which reimbursement shall accrue to the revolving fund. The unexpended balance of the appropriation for overhead expenses at the end of each fiscal year shall automatically revert to the said revolving fund and whatever earning of the Authority, if any, shall also accrue to the revolving fund.