An Act Authorizing the Public Service Commission to Construct an Adequate and Permanent Building for its Offices in Quezon City and for Other Purposes

REPUBLIC ACT No. 5143

An Act Authorizing the Public Service Commission to Construct an Adequate and Permanent Building for its Offices in Quezon City and for Other Purposes

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

Section 1. The Public Service Commission is hereby authorized to acquire a lot and contract an adequate and permanent building for its offices in Quezon City: Provided, However, That such building shall be constructed in accordance with plans and specifications approved by the Department of Public Works and Communications.

Section 2. The Public Service Commission is hereby authorized to use five million pesos of the unexpended balance of the fees collected by it under Section forty of the Public Service Act, as amended, or so much as may be necessary, and/or to borrow from the Government Service Insurance System or other financial institutions so much may be necessary for the purpose mentioned in Section one of this Act: Provided, However, That such indebtedness shall be paid out of the fees collected by the Commission under Section forty of the Public Service Act, as amended, through annual amortizations until the full amount is paid; And, Provided, finally, That if the financing comes from the fees collected by the Commission, only one million pesos, or so much as may be available, shall be released by the Budget Commissioner each year until the full amount is released.

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

Approved: June 17, 1967.