AN ACT TO ASSIST THE VICTIMS OF CALAMITIES BY APPROPRIATING ELEVEN MILLION PESOS FOR RELIEF AND PROCURING LOANS FOR RESTITUTION, AND OTHER PURPOSES.

[ REPUBLIC ACT NO. 3468, June 16, 1962 ]

AN ACT TO ASSIST THE VICTIMS OF CALAMITIES BY APPROPRIATING ELEVEN MILLION PESOS FOR RELIEF AND PROCURING LOANS FOR RESTITUTION, AND OTHER PURPOSES.

Be it enacted by the Senate and House of Representatives of the Philippines in Congress1 assembled:

Section 1. The sum of eleven million pesos is hereby appropriated out of any funds in the National Treasury not otherwise appropriated for aid to, and for the relief and rehabilitation of, people and areas damaged by public calamities, such as typhoons, earthquakes, volcanic eruptions, floods, fires, epidemics and the like which occurred during the fiscal year nineteen hundred sixty-two and those which may occur in succeeding fiscal years, which shall be expended in such manner as the President of the Philippines may determine: Provided, however, That the amount of five million pesos hereof shall be also used to repair and/or reconstruct typhoon damages on public works on the basis of the reported, recorded and recommended typhoon damages in the Department of Public Works and Communications for the fiscal year nineteen hundred sixty to nineteen hundred sixty-one, hereinbelow itemized:

Provided, further, That the release of funds herein appropriated shall be pro rata, and simultaneous to all areas damaged by public calamities for the different repair and/or reconstruction projects herein itemized: And, provided, finally, That no portion of the amount herein appropriated shall be utilized for new construction, but only for purposes of restoration, repair and reconstruction as herein provided.

Section 2. Aside from the expenditures of the amount herein appropriated, the President of the Philippines shall arrange with public credit institutions and/or private banks only to facilitate the extension of long-term loans to victims of calamities for the reconstruction of their destroyed dwellings and the acquisition of their lost implements and tools needed in their occupation or calling.

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

Approved, June 16, 1962.