Section 6
SEC. 6. Section twenty-three of the same Act is hereby amended to read as follows: "SEC. 23. Power to Issue Bonds.—Whenever the Commission may deem it advisable and necessary for the authority to incur indebtedness or to issue bonds to carry out approved capital-investment projects, it shall, by resolution, so manifest and declare, stating the purpose for which the loan or issue is to be applied and citing the project study devised for the purpose. In order for such resolution to be valid, it shall be passed by the affirmative vote of at least four members of the Commission and approved by the President of the Philippines upon the recommendation of the Secretary of Finance, after consultation with the Monetary Board."