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Presidential Decree to amend the Act creating the metropolitan waterworks and sewerage system and dissolving the National Waterworks and Sewerage Authority; and for other purposes (No. 425 of 1974).

Country/Territory
Philippines
Document type
Legislation
Date
1974
Source
FAO, FAOLEX
Subject
Water
Keyword
Institution Water supply Waterworks
Geographical area
Asia, Asia and the Pacific, East Asian Seas, North Pacific, South-Eastern Asia
Abstract

The Metropolitan Waterworks and Sewerage System is now ready to undertake the first phase of a long-range program of construction, development and improvement of the water system to be able to meet the increased water demand. For this reason, the Corporation is allowed to issue shares, which in the major part are subscribed by the Government, and to employ other means of attracting capital. Section 4 redefines the powers and functions of the Board of Trustees of the Corporation. The Board shall determine the amount, terms, and conditions of domestic indebtedness, subject to approval by the Secretary of Finance. The Corporation may also contract foreign loans.

Full text
English