Law Summary
Designation and Composition of Fund-Raising Committee
- A specific committee is constituted for raising funds and overseeing the monument's construction.
- Committee members include Pascual Poblete, Paciano Rizal, Juan Tuason, Teodoro R. Yangco, Mariano Limjap, Maximino Paterno, Ramon Genato, Tomas G. del Rosario, and Dr. Ariston Bautista.
Committee Organization and Succession
- The committee must elect a chairman and a secretary.
- The committee must certify these elections to the Insular Auditor and Treasurer.
- Vacancies due to resignation or death are filled by the committee with the Civil Governor's approval.
Procedures for Subscription Collection and Management
- Subscriptions are collected by the committee or its appointed agents, each authorized with receipt books issued by the Insular Treasury.
- Collectors must provide receipts to subscribers and deposit funds with the Insular Treasurer at the Intendencia Building the day following collection (or as soon as practicable for outside Manila collections).
- Each deposit receives a special receipt requiring the Insular Auditor's countersignature.
- The Insular Auditor maintains detailed accounts of deposited funds.
- Collectors must submit weekly lists of contributors, which are made public.
Expenditure and Use of Funds
- The committee manages expenditure strictly for monument erection-related purposes.
- Payment to collection agents is permissible, based on percentage or per diem, without committee members receiving compensation.
- The committee may offer design prizes and employ expert artists or sculptors.
- Ceremonies related to cornerstone laying or unveiling are under the committee’s charge but require Civil Governor approval.
Financial Accountability and Surplus Fund Use
- Monthly financial reports are jointly prepared by the Insular Treasurer and Auditor to the committee.
- Disbursements require a committee order with president's warrant, secretary's countersignature, and itemized statements.
- Quarterly audits by Insular Auditor are conducted, followed by public disclosure of audit results.
- Surplus funds remaining after all expenses may be allocated to charitable, educational, or other public uses at the committee’s discretion.
Expedited Enactment and Effective Date
- The Act's passage is expedited due to public interest, following prescribed legislative procedures.
- The Act takes effect immediately upon passage on September 28, 1901.