Section 1
SECTION. 1. The City of Baguio is hereby authorized to settle its indebtedness to the National Power Corporation in the sum of three million pesos, more or less, by deducting said sum from the indebtedness of the National Government to the City of Baguio in the amount of more than ten million pesos appropriated under Republic Act Numbered Four thousand seven hundred eight which further amended .subsection (a) of Section two thousand five hundred fifty-three of the Revised Administrative Code, as amended, to the credit of the National Power Corporation: Provided, That if the National Power Corporation has obligations due and payable to the National Government, the National Power Corporation shall withhold payment of the same to the National Government until said obligations have accumulated the sum of three million pesos, more or less, in payment of the indebtedness of the City of Baguio, in which case all the parties shall enter the transaction in their respective books of accounts, for purposes of records.