[ REPUBLIC ACT NO. 1298, June 16, 1955 ]
AN ACT AUTHORIZING THE CONSTRUCTION OF THE MARIKINA MULTI-PURPOSE PROJECT, AUTHORIZING THE MARIKINA PROJECT COORDINATING COMMITTEE TO SERVE AS THE IMPLEMENTING AGENCY OF THIS PROJECT, AUTHORIZING FINANCING BY ENTITIES CONCERNED OF THEIR SHARE OF THE COST OF THIS PROJECT; AND AUTHORIZING THE CONSTRUCTION OF THE ILOG RIVER MULTI-PURPOSE PROJECT, AND FERTILIZER PLANT, AND FINANCING OF THE SAME, AFTER THE COMPLETION OF THE NECESSARY INVESTIGATION AND STUDY OF THESE PROJECTS, AND FOR OTHER PURPOSES.
Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:
SECTION 1. The construction of the Marikina River Multi-Purpose Project is hereby authorized for the following purposes: To regulate and control floods caused by the Marikina River; to provide storage of the flow of the Marikina River and the use of such stored waters for the irrigation of agricultural lands in the Marikina Valley; the increase of the industrial and municipal water supply of Manila and its environs; and the generation and transmission of electric power and energy.
SEC. 2. The irrigation and flood control phases of this multi-purpose project shall be handled by the Bureau of Public Works; the water supply phase by the Metropolitan Water District; and the power phase by the National Power Corporation. Each of these entities shall be responsible for the construction and subsequent operation of the works under their respective jurisdictions, subject to coordination provided for in section three hereof.
SEC. 3. (a) For the proper coordination of the activities of the different entities concerned in this project, the Marikina Project Coordinating Committee created under Administrative Order Numbered Two hundred sixteen of September twenty-nine, nineteen hundred and fifty-three is hereby authorized to serve as the implementing agency of this project. This Committee shall have charge of locations for funds and their allocation to the respects agencies. Where dollar assistance is made available by the FOA to the Marikina River Multi-Purpose Project, the Coordinating Committee is authorized to make, from auable economic development bond funds, peso deposits into the Counterpart Fund—Special Account in amounts commensurate with the value of the dollar commodities procured for the project.
(b) The Coordinating Committee shall determine the actual legitimate cost of the multi-purpose project after the construction of the original structures and/or any addition thereto and to make the final allocation to the different entities concerned of their share of the cost of the project. For purposes of pre-determination of the depreciation or amortization and interest charges that will enter into the expected unit production costs of (1) electric power, (2) industrial water, and (3) irrigation water, the Coordinating Committee shall also make suitable allocation of the overall construction cost estimates to each phase of the project, prior to or during the course of construction as the need for such allocation may arise, taking into consideration the commercial values of each of the products from the project and assigning a proper value to the economic and social benefits to be derived from flood control.
The Coordinating Committee shall, after the completion of the construction of the multi-purpose project, prescribe such rules and regulations as are necessary for the efficient operation and maintenance of the multi-purpose works, define the responsibilities of each participating entity with respect thereto, including the appropriation, delivery and use of the stored waters for the generation of power, industrial and municipal water supply irrigation, flood control, or other uses.
SEC. 4. (a) The National Power Corporation and the Metropolitan Water District are hereby authorized to secure loans from financing institutions or construction corporations for the dollar funds needed to finance then share of foreign currency requirements of the project, and the Philippine Government shall guarantee repayment o these loans.
They are also authorized to borrow from proceeds of sale of bonds under Republic Act Numbered One thousand, the peso funds corresponding to their share of the proje cost.
(b) The funds needed by the Bureau of Public Works as its share of the project cost for the flood control and irrigation phases shall be taken from economic development bonds issued under Republic Act Numbered One thousand.
SEC. 5. The construction of the Ilog River Multi-Purpose Project and a Fertilizer Plant, upon completion of the necessary investigation and design of these projects, is also hereby authorized for the following purposes: To regulate and control floods caused by the Ilog River; to provide storage of the flow of the Ilog River and the use of such stored water for the irrigation of agricultural lands in the vicinity of this river; and the generation and transmission of electric power and energy for the fertilizer plant; and for the manufacture of fertilizer.
SEC. 6. The irrigation and flood control phases of this multi-purpose project shall be handled by the Bureau of Public Works; and the power phase by the National Power Corporation. Each of these entities shall be responsible for the construction and subsequent operation of the works under their respective jurisdictions, subject to coordination provided for in section seven hereof. The construction and subsequent operation of the Fertilizer Plant shall be the sole responsibility of the National Power Corporation.
SEC. 7. For the proper coordination of the activities of the different entities concerned in the Ilog River Multi-Purpose Project, the Multi-Purpose Committee created under Administrative Order Numbered Sixty-five of September twenty-seven, nineteen hundred fifty-four is hereby authorized to serve as the implementing agency of this Project.
SEC. 8. (a) The National Power Corporation is hereby authorized to secure loans from financing institutions or construction corporations for the dollar funds needed to finance its share of foreign currency requirements of the Ilog River Multi-Purpose Project, and of the Fertilizer Plant.
It is also authorized to borrow from proceeds of the sale of bonds under Republic Act Numbered One thousand the peso funds corresponding to its share of the cost of the multi-purpose project and of the fertilizer plant;
(b) The funds needed by the Bureau of Public Works as its share of the cost of the multi-purpose project for th flood control and irrigation phases shall be taken from economic development bonds issued under Republic Act Numbered One thousand.
SEC. 9. This Act shall take effect upon its approval.
Approved, June 16, 1955.
SECTION 1. The construction of the Marikina River Multi-Purpose Project is hereby authorized for the following purposes: To regulate and control floods caused by the Marikina River; to provide storage of the flow of the Marikina River and the use of such stored waters for the irrigation of agricultural lands in the Marikina Valley; the increase of the industrial and municipal water supply of Manila and its environs; and the generation and transmission of electric power and energy.
SEC. 2. The irrigation and flood control phases of this multi-purpose project shall be handled by the Bureau of Public Works; the water supply phase by the Metropolitan Water District; and the power phase by the National Power Corporation. Each of these entities shall be responsible for the construction and subsequent operation of the works under their respective jurisdictions, subject to coordination provided for in section three hereof.
SEC. 3. (a) For the proper coordination of the activities of the different entities concerned in this project, the Marikina Project Coordinating Committee created under Administrative Order Numbered Two hundred sixteen of September twenty-nine, nineteen hundred and fifty-three is hereby authorized to serve as the implementing agency of this project. This Committee shall have charge of locations for funds and their allocation to the respects agencies. Where dollar assistance is made available by the FOA to the Marikina River Multi-Purpose Project, the Coordinating Committee is authorized to make, from auable economic development bond funds, peso deposits into the Counterpart Fund—Special Account in amounts commensurate with the value of the dollar commodities procured for the project.
(b) The Coordinating Committee shall determine the actual legitimate cost of the multi-purpose project after the construction of the original structures and/or any addition thereto and to make the final allocation to the different entities concerned of their share of the cost of the project. For purposes of pre-determination of the depreciation or amortization and interest charges that will enter into the expected unit production costs of (1) electric power, (2) industrial water, and (3) irrigation water, the Coordinating Committee shall also make suitable allocation of the overall construction cost estimates to each phase of the project, prior to or during the course of construction as the need for such allocation may arise, taking into consideration the commercial values of each of the products from the project and assigning a proper value to the economic and social benefits to be derived from flood control.
The Coordinating Committee shall, after the completion of the construction of the multi-purpose project, prescribe such rules and regulations as are necessary for the efficient operation and maintenance of the multi-purpose works, define the responsibilities of each participating entity with respect thereto, including the appropriation, delivery and use of the stored waters for the generation of power, industrial and municipal water supply irrigation, flood control, or other uses.
SEC. 4. (a) The National Power Corporation and the Metropolitan Water District are hereby authorized to secure loans from financing institutions or construction corporations for the dollar funds needed to finance then share of foreign currency requirements of the project, and the Philippine Government shall guarantee repayment o these loans.
They are also authorized to borrow from proceeds of sale of bonds under Republic Act Numbered One thousand, the peso funds corresponding to their share of the proje cost.
(b) The funds needed by the Bureau of Public Works as its share of the project cost for the flood control and irrigation phases shall be taken from economic development bonds issued under Republic Act Numbered One thousand.
SEC. 5. The construction of the Ilog River Multi-Purpose Project and a Fertilizer Plant, upon completion of the necessary investigation and design of these projects, is also hereby authorized for the following purposes: To regulate and control floods caused by the Ilog River; to provide storage of the flow of the Ilog River and the use of such stored water for the irrigation of agricultural lands in the vicinity of this river; and the generation and transmission of electric power and energy for the fertilizer plant; and for the manufacture of fertilizer.
SEC. 6. The irrigation and flood control phases of this multi-purpose project shall be handled by the Bureau of Public Works; and the power phase by the National Power Corporation. Each of these entities shall be responsible for the construction and subsequent operation of the works under their respective jurisdictions, subject to coordination provided for in section seven hereof. The construction and subsequent operation of the Fertilizer Plant shall be the sole responsibility of the National Power Corporation.
SEC. 7. For the proper coordination of the activities of the different entities concerned in the Ilog River Multi-Purpose Project, the Multi-Purpose Committee created under Administrative Order Numbered Sixty-five of September twenty-seven, nineteen hundred fifty-four is hereby authorized to serve as the implementing agency of this Project.
SEC. 8. (a) The National Power Corporation is hereby authorized to secure loans from financing institutions or construction corporations for the dollar funds needed to finance its share of foreign currency requirements of the Ilog River Multi-Purpose Project, and of the Fertilizer Plant.
It is also authorized to borrow from proceeds of the sale of bonds under Republic Act Numbered One thousand the peso funds corresponding to its share of the cost of the multi-purpose project and of the fertilizer plant;
(b) The funds needed by the Bureau of Public Works as its share of the cost of the multi-purpose project for th flood control and irrigation phases shall be taken from economic development bonds issued under Republic Act Numbered One thousand.
SEC. 9. This Act shall take effect upon its approval.
Approved, June 16, 1955.