An Act Amending Certain Sections of Republic Act Numbered Three Thousand Nine Hundred and Sixty-One, Otherwise Known as the San Juanico Strait Tourist Development Authority

REPUBLIC ACT No. 5066

An Act Amending Certain Sections of Republic Act Numbered Three Thousand Nine Hundred and Sixty-One, Otherwise Known as the San Juanico Strait Tourist Development Authority

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

Section 1. Section two of Republic Act Numbered Three thousand nine hundred sixty-one is hereby amended to read as follows:

Section 2. Section four of the same Act is amended to read as follows:

Section 3. Section six of the same Act is amended to read as follows:

Section 4. This Act shall take effect upon its approval.

Approved: June 17, 1967.

"Sec. 2. Governing Board; Meetings; General Manager.— The powers and functions of the Authority shall be vested in, and exercised by, a Board of Directors composed of the Secretary of Commerce and Industry, as chairman, the Secretary of Public Works and Communications, the Tourist Commissioner, the Provincial Governors of Leyte, Southern Leyte and Western Samar and the Mayor of the City of Tacloban, as members.

"The chairman and members of the Board shall receive no per diems but may be allowed to draw travel allowances.

"The Board shall meet regularly once a month and may hold such special meetings, at the call of the chairman or a majority of the members of the Board, as may be necessary in the interests of the Authority. The meetings may be held in any place at the discretion of the Board.

"There shall be a general manager who shall be appointed by the President of the Philippines, and whose compensation shall not exceed eighteen thousand pesos per annum."

"Sec. 4. Special Corporate Powers.— The Authority shall, likewise, have the power to borrow money; float bonds, securities and other certificates of indebtedness with the approval of the Central Bank and the President of the Philippines, which shall be guaranteed by the Philippine Government, both as to principal and interest; to enter into contracts with any person, association or corporation, public or private; to construct hotels, lodging houses, rest houses and other improvements that, in the discretion of the Board, may redound to the interests of the Authority; and to appoint such subordinate personnel as may be necessary to accomplish its ends, upon the recommendation of the general manager, and to fix their duties and salaries."

"Sec. 6. Appropriations.— There is hereby authorized to be appropriated out of any funds in the National Treasury not otherwise appropriated, the sum of five hundred thousand pesos for the initial organization and operation of the Authority. Thereafter, the sum of one million pesos, for its operation, shall be included in the annual General Appropriations Act."