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Republic Act
Approved June 14, 1955More laws from 1955 →

Republic Act No. 1279

An act amending section one of republic act numbered eight hundred thirty-nine

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In plain language

This act condones debts incurred by local governments for public structures destroyed in World War II and requires the national government to assume these loans, unless war damage payments were already received for them.

REPUBLIC ACT No. 1279

An Act Amending Section One of Republic Act Numbered Eight Hundred Thirty-Nine

Be it enacted by the Senate and House of Representatives of the Philippine Congress Assembled:

Section 1

Section one of Republic Act Numbered Eight hundred thirty-nine is hereby amended to read as follows:

Sec. 1. All indebtedness incurred by provincial, city of municipal governments for the purpose of constructing government buildings, waterworks system, markets and any other public edifices which were subsequently destroyed during the last world war are hereby condoned by the National Government, and if the provincial, city or municipal governments incurred such indebtedness from the National Government, the same shall be assumed by any bank or financial institution owned or controlled by the National Government: Provided, However , That if war damage payment was received by any such local government, an amount equivalent to such payment shall be paid by such local government to the creditor.

Section 2

This Act shall take effect upon its approval.

Approved: June 14, 1955.

For information and research only, and not legal advice. This text may not reflect later amendments. For certified copies, refer to the Official Gazette or the issuing agency.