Title
Appropriation from Port Works Fund to Reimburse Bonds
Law
Acts No. 4100
Decision Date
Nov 29, 1933
Acts No. 4100 appropriates five hundred thousand pesos from the "Port Works Fund" to the General Fund to partially reimburse previous payments for bond interests and sinking funds related to earlier legislation.
A

Q&A (Acts No. 4100)

The main purpose of Act No. 4100 is to appropriate the sum of five hundred thousand pesos out of the "Port Works Fund" to be transferred to the General Fund to reimburse part of the payments previously made from the General Fund for the interests and sinking funds of certain bonds issued under specific Acts.

The amount is appropriated from the "Port Works Fund" created by Act Numbered 3592.

The amount is transferred to the General Fund.

Payments made in prior years from the General Fund for the interests and sinking funds of bonds issued under Act Number 2908 and for the year 1934 on bonds issued under Acts 3413 and 3417 are being reimbursed in part.

Acts Numbered 2908, 3413, and 3417.

The Act takes effect upon its approval.

It was enacted by the Senate and House of Representatives of the Philippines in Legislature assembled.

The "Port Works Fund" is a special fund created by Act Number 3592, from which the appropriation is made to reimburse the General Fund for bond payments.

No, it provides reimbursement in part for the payments made in prior years.

The bonds were issued by virtue of Act Number 2908 and Acts Numbers 3413 and 3417.


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