Question & AnswerQ&A (EXECUTIVE ORDER NO. 50)
The collection of tolls was terminated because the total cost of the bridge, plus interest at 4% per annum, had been fully recovered.
Act No. 3500, as amended, is cited as the basis for the certification.
The interest rate mentioned is 4% per annum.
It takes effect upon receipt of a copy by the Provincial Treasurer of Leyte.
The Provincial Treasurer of Leyte must receive a copy of the order for the termination of toll collection to take effect.
It implies that toll collection can be terminated once the initial cost plus agreed interest is fully recovered, ensuring that funding objectives are met.
It reflects a policy of recovering costs with interest through tolls before removing toll charges to benefit the public.
The order legally binds provincial authorities to cease toll collection once notified, ensuring compliance with national directive.