RA 6070 Section 10

Bond limits.

Section 10

SEC. 10. Bond limits.—The bonds issued under this provision shall in no case exceed the amount of ten million pesos: Provided, That no single issue shall exceed two million pesos and that no further issue shall be made if eighty per centum of the immediately preceding issue is not yet sold. The bonds shall be issued in such amounts as will be needed at any one time, taking into account the rate at which said bonds may be absorbed by the buying public and the fund requirements of projects ready for execution, and considering further a proper balance between productive and non-productive projects so that inflation shall be held to the minimum.

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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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