REPUBLIC ACT NO. 5717 - AN ACT AUTHORIZING THE CITY OF BAGUIO TO SETTLE ITS INDEBTEDNESS TO THE NATIONAL POWER CORPORATION OUT OF THE SUM APPROPRIATED UNDER SUBSECTION (a) OF SECTION TWO THOUSAND FIVE HUNDRED FIFTY-THREE OF THE REVISED ADMINISTRATIVE CODE, AS AMENDED
1. The City of Baguio is hereby authorized to settle
its indebtedness to the National Power Corporation in the sum of three
million pesos, more or less, by deducting said sums from the
indebtedness of the National Government to the City of Baguio in the
amount of more than ten million pesos appropriated under Republic Act
Numbered Four thousand seven hundred eight which further amended
subsection (a) of Section two thousand five hundred fifty-three of the
Revised Administrative Code, as amended, to the credit of the National
Power Corporation: Provided, That if the National Power Corporation has
obligations due and payable to the National Government, the National
Power Corporation shall withhold payment of the same to the National
Government until said obligations have accumulated the sum of three
million pesos, more or less, in payment of the indebtedness of the City
of Baguio, in which case all the parties shall enter the transaction in
their respective books of accounts, for purposes of
Sec. 2. All future obligations of the City of Baguio to the National Power Corporation arising from the consumption of electric power and energy furnished to the City by the National Power Corporation shall similarly be chargeable to the balance remaining of the sum appropriated under Republic Act Numbered Four thousand seven hundred eight and to such future sums to be annually appropriated in the General Appropriations Act pursuant to the provisions of Republic Act Numbered Four thousand seven hundred eight.
Sec. 3. This Act shall take effect upon its approval.
Enacted without Executive
approval, June 21, 1969.