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[ Act No. 3369, December 03, 1927 ]

AN ACT TO AMEND SUBSECTION (L) OF SECTION TWO THOUSAND TWENTY-NINE OF THE ADMINISTRATIVE CODE, AS AMENDED BY ACT NUMBERED TWENTY-EIGHT HUNDRED AND FIFTY-SIX, RELATIVE TO LOANS TO THE INSULAR GOVERNMENT FROM THE POSTAL SAVINGS BANK.

Be it enacted by the Senate and House of Representatives of the Philippines in
Legislature assembled and by the authority of the same:

Section 1. Subsection (I) of section two thousand twenty-nine of the Administrative Code, as amended by Act Numbered Twenty-eight hundred and fifty-six, is hereby further amended to read as follows:

"(l) In loans to the Insular Government of not exceeding the aggregate amount of five hundred thousand pesos, for the purchase or construction of public buildings for the offices of the Insular Government: Provided, That authority from the Legislature shall be secured prior to the granting of any loan."

Section 2. Section two of Act Numbered Twenty-eight hundred and fifty-six is hereby repealed.ℒαwρhi৷

Section 3. This Act shall take effect on its approval.

Approved, December 3, 1927.

The Lawphil Project - Arellano Law Foundation

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