PHILIPPINE LAWS, STATUTES, CODES & ISSUANCES
PHILIPPINE LAWS, STATUTES AND CODES - CHAN ROBLES VIRTUAL LAW LIBRARY
REPUBLIC ACTS
REPUBLIC ACT NO. 1279 - AN
ACT AMENDING SECTION ONE OF REPUBLIC ACT NUMBERED EIGHT HUNDRED
THIRTY-NINE |
Section 1.
Section one of Republic Act Numbered Eight hundred thirty-nine is
hereby amended to read as follows: "Section 1. All
indebtedness incurred by provincial, city of municipal governments for
the purpose of constructing government buildings, waterworks system,
markets and any other public edifices which were subsequently destroyed
during the last world war are hereby condoned by the National
Government, and if the provincial, city or municipal governments
incurred such indebtedness from the National Government, the same shall
be assumed by any bank or financial institution owned or controlled by
the National Government: Provided, however, That if war damage payment
was received by any such local government, an amount equivalent to such
payment shall be paid by such local government to the creditor."
Sec. 2. This Act shall take effect upon its approval.cralaw Approved: June 14, 1955 |
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