QuestionsQuestions (PRESIDENTIAL DECREE NO. 127)
PD No. 127 (Feb. 12, 1973) authorizes certain Local School Boards to invest in government bonds to generate cash to underwrite and carry out the objectives of the Educational Development Decree of 1972, especially to improve educational management and services.
All Local School Boards of (1) chartered cities and (2) all first class-1 and first class-2 municipalities created under Republic Act No. 5447.
Investments in government bonds issued or to be issued under the provisions of Republic Act No. 4861.
An amount not less than thirty percent (30%) of their respective shares derived from the additional one percent (1%) real property tax.
From the additional one percent (1%) real property tax levied and apportioned under Republic Act No. 5447.
The amount is based on the additional one percent (1%) real property tax actually realized during the next preceding fiscal year.
Investing is authorized beginning March 1, 1973.
It shall take effect fifteen (15) days after its publication in the Official Gazette.
Yes. All laws, rules and regulations inconsistent with PD No. 127 are hereby repealed or modified accordingly.
To generate cash needed to underwrite and successfully implement the goals of the Educational Development Decree of 1972, including improved educational system management and instruction.
It cites the President’s powers vested by the Constitution as Commander-in-Chief of the Armed Forces of the Philippines, and also cites Proclamation No. 1081 (Sept. 21, 1972), General Order No. 1 (Sept. 22, 1972, as amended), and Proclamation No. 1103 (Jan. 17, 1973).
PD No. 127 authorizes investment in government bonds issued or to be issued under Republic Act No. 4861.
PD No. 127 ties the investment base to the additional one percent (1%) real property tax levied and apportioned under Republic Act No. 5447, and to the shares from that tax actually realized in the preceding fiscal year.
It imposes a mandatory minimum: investments must be in amounts not less than 30% of the specified tax-share base.