PHILIPPINE LAWS, STATUTES, CODES & ISSUANCES
PHILIPPINE LAWS, STATUTES AND CODES - CHAN ROBLES VIRTUAL LAW LIBRARY
REPUBLIC ACTS
REPUBLIC ACT NO. 1216 - AN
ACT TO FURTHER AMEND SECTION ONE OF ACT NUMBERED THIRTY-FIVE HUNDRED
AND NINETY-TWO, KNOWN AS THE "PORT-WORKS FUND ACT", AS AMENDED BY
COMMONWEALTH ACT NUMBERED ONE HUNDRED AND THIRTY, AND TO PROVIDE FOR
THE DISBURSEMENT OF SAID FUNDS SO AS TO EXCLUDE DISBURSEMENT OF PORT
WORKS FUND FOR THE INVESTIGATION, CONSTRUCTION, IMPROVEMENT AND
MAINTENANCE OFRPORTS AND LANDING FIELDS |
Section
1. Section one of Act Numbered Thirty-five hundred
and ninety-two, as amended by Commonwealth Act Numbered One hundred and
thirty, is hereby further amended to read as follows: "Section 1. All
wharfage fees collected from the date on which this Act takes effect,
under the provisions of section fourteen of the Tariff Law of nineteen
hundred and nine, shall be deposited in the National Treasury and shall
form a special fund to be known as "Port Works Fund," which shall be
disbursed in accordance with acts of the Congress for the
investigation, construction, improvement and maintenance of ports,
buoys, lighthouses, and otherds to navigation, including the purchase
and maintenance of necessary equipment: Provided, however, That fifty
per centum of the fund so formed is hereby set aside for the necessary
expenses of maintenance of ports, buoys, lighthouses, and otherds to
navigation belonging to the National Government, including dredging and
improvements incidental to such maintenance, to be allotted by the
Secretary of Public Works and Communications, with the approval of the
President, upon certification by the Secretary of Finance that the
necessary funds are available: Provided, further, That out of the
remaining fifty per centum of the fund so formed there is hereby set
aside such sum as may be necessary to reimburse the general fund for
the payment of interest charges on account of bonds issued by the
National Government for the construction and improvement of ports.
Sec. 2. This Act shall take effect upon its approval.cralaw Approved: May 10, 1955 |
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