RA 7160 (Local Government Code of 1991) Section 296

General Policy.

Section 296

SECTION 296. General Policy. - (a) It shall be the basic policy that any local government unit may create indebtedness, and avail of credit facilities to finance local infrastructure and other socio-economic development projects in accordance with the approved local development plan and public investment program. (b) A local government unit may avail of credit lines from government or private banks and lending institutions for the purpose of stabilizing local finances.

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CitationRA 7160 (Local Government Code of 1991) Section 296 (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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