RA 4071 Section 13

Sinking fund.

Section 13

SEC. 13. Sinking fund.—A sinking fund shall be established in such manner that the total annual contributions thereto, accrued at such rate of interest as may be determined by the Secretary of Finance in consultation with the Monetary Board, shall be sufficient to redeem at maturity the bonds issued under this Act. Said fund shall be under the custody of the Central Bank of the Philippines which shall invest the same in such manner as the Monetary Board may approve; charge all expenses of such investments to said sinking fund, and credit the name with the interest on investments and other income belonging to it.

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Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).

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