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RA 4700 Section 4

RA 4700 Section 4

Section 4

SEC. 4. To carry out the purposes of this Act, such sums as may be necessary, but in no case to exceed twenty million pesos (P20 M) are hereby appropriated out of any funds in the national treasury not otherwise appropriated: Provided, That, in the opinion of the President of the Philippines, the finances of the government do not permit the utilization of the funds in the treasury, the Secretary of General Services, with the approval of the President, is hereby authorized to borrow funds from any local or foreign institution in an amount not exceeding twenty million pesos to cover the cost of acquisition, installation, establishment and operation for the first year of one modern security printing plant as provided for in Section one. All loans obtained under this Act shall be fully guaranteed by the Republic of the Philippines both as to principal and interest. In the event that the Department of General Services shall be unable to pay said principal and interest, the Central Bank shall advance the amounts thereof of out of its surplus funds, not otherwise appropriated. Thereupon the amounts so advanced shall be reimbursed by the Department of General Services, from whatever payments it shall receive for security printing jobs undertaken taken, and such reimbursements shall automatically a to the surplus funds of the Central Bank.

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Other provisions in RA 4700

Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗ · Data as of July 4, 2026

CitationRA 4700 Section 4 (LawPlayer, data as of July 4, 2026)

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

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