Loan to Province of Nueva Ecija Authorized

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Act No. 427: Loan to Province of Nueva Ecija Authorized

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Title Source: Supreme Court: Loan to Province of Nueva Ecija Authorized

Law: Act No. 427

Decision Date: Jul 9, 1902

A Philippine Jurisprudence case examines the authorization of a $7,050 loan to the Province of Nueva Ecija for general government purposes, with a repayment deadline of December 31, 1902, as stipulated in Act No. 427 enacted on July 9, 1902.

Law Summary

Purpose and Use of the Loan

The provincial board may use the loaned funds for general purposes of the provincial government.
The use of funds must align with the provisions of the Provincial Government Act.

Repayment Terms

The loan must be returned to the Insular Treasury on or before December 31, 1902.

Expedited Enactment

The bill's passage is expedited due to public necessity.
Expedited procedures follow Section 2 of "An Act prescribing the order of procedure by the Commission in the enactment of laws," dated September 26, 1900.

Effectivity

The Act takes effect immediately upon its passage on July 9, 1902.

END