Authorizing The Construction Of The Magat River Multi-Purpose Project In Isabela, Providing For The Financing Thereof, And For Other Purposes.
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Authorizing The Construction Of The Magat River Multi-Purpose Project In Isabela, Providing For The Financing Thereof, And For Other Purposes.
Presidential Decree No. 693
May 7, 1975
Case Overview and Summary
Summary of Presidential Decree No. 693Authorization for the Magat River Multi-Purpose Project
- Section 1: Authorizes the construction of the Magat River Multi-Purpose Project in Isabela for irrigation, power generation, recreation, fish conservation, and other related uses.
Financing of the Project
- Section 2: Appropriates 2.4 billion Philippine Pesos from the National Treasury to finance the local currency costs of the project. Allows the use of proceeds from bond issues under Republic Act No. 4861 to reduce releases from the general fund.
- Section 3: Authorizes the President to contract loans, credits, and indebtedness up to $300 million or equivalent in foreign currencies to finance the foreign exchange requirements of the project, in accordance with Republic Act No. 4860 as amended.
Fees and Charges for Project Use
- Section 4: Empowers the National Irrigation Administration or authorized agency to collect fees or charges from project users to finance operation and maintenance, and recover financing and construction costs within a reasonable period. For irrigation charges, the period shall be not less than 25 years, and the level shall cover operation and maintenance costs and capital recovery without impairing incentives for using irrigation facilities.
Project Positions and Administration
- Section 5: Positions created for the project shall be co-terminus with the project, and appointments shall follow Presidential Decree No. 552.
- Section 6: The National Irrigation Administration shall coordinate with other involved agencies, promulgate necessary rules and regulations with the President's approval, and other agencies shall cooperate.
Effectivity
- Section 7: This decree shall take effect upon approval.
Amends
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Tags
Executive Issuances
Presidential Decrees
Magat River Multi-Purpose Project
Isabela
irrigation
power generation
recreation
fish conservation
financing
National Treasury
bond issues
Republic Act No. 4861
loans
credits
indebtedness
foreign exchange
Republic Act No. 4860
fees
charges
operation and maintenance
cost recovery
irrigation charges
project positions
Presidential Decree No. 552
rules and regulations
agency coordination
effectivity
Law
Authorizing The Construction Of The Magat River Multi-Purpose Project In Isabela, Providing For The Financing Thereof, And For Other Purposes.
Presidential Decree No. 693
•May 7, 1975
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 693 May 7, 1975
AUTHORIZING THE CONSTRUCTION OF THE MAGAT RIVER MULTI-PURPOSE PROJECT IN ISABELA, PROVIDING FOR THE FINANCING THEREOF, AND FOR OTHER PURPOSES.
WHEREAS, it is necessary to further accelerate the development and utilization of the country's water and land resources as a means of bolstering the government's food production and industrialization program thereby enhancing the economic development of the nation;
WHEREAS, the potentials of the Magat River in the Province of Isabela have been studied and found to be economically and technically viable, its development being envisioned as a multi-purpose project designed to provide irrigation, generate electric power and energy, provide recreational and fish conservation facilities and for other related uses;
WHEREAS, successful development of the Magat River requires government support specifically in the form of financing through local and/or foreign sources;
WHEREAS, the National Irrigation Administration has been designated by the Government as the implementing agency for the Magat River Multi-Purpose Project under Executive Order No. 440, Series of 1974;
NOW, THEREFORE, I,...
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Amends
n/a
Amended by
n/a
Tags
Executive Issuances
Presidential Decrees
Magat River Multi-Purpose Project
Isabela
irrigation
power generation
recreation
fish conservation
financing
National Treasury
bond issues
Republic Act No. 4861
loans
credits
indebtedness
foreign exchange
Republic Act No. 4860
fees
charges
operation and maintenance
cost recovery
irrigation charges
project positions
Presidential Decree No. 552
rules and regulations
agency coordination
effectivity
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 693 May 7, 1975
AUTHORIZING THE CONSTRUCTION OF THE MAGAT RIVER MULTI-PURPOSE PROJECT IN ISABELA, PROVIDING FOR THE FINANCING THEREOF, AND FOR OTHER PURPOSES.
WHEREAS, it is necessary to further accelerate the development and utilization of the country's water and land resources as a means of bolstering the government's food production and industrialization program thereby enhancing the economic development of the nation;
WHEREAS, the potentials of the Magat River in the Province of Isabela have been studied and found to be economically and technically viable, its development being envisioned as a multi-purpose project designed to provide irrigation, generate electric power and energy, provide recreational and fish conservation facilities and for other related uses;
WHEREAS, successful development of the Magat River requires government support specifically in the form of financing through local and/or foreign sources;
WHEREAS, the National Irrigation Administration has been designated by the Government as the implementing agency for the Magat River Multi-Purpose Project under Executive Order No. 440, Series of 1974;
NOW, THEREFORE, I,...
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