Section 69May 25, 1973, Sec./Art. 69

Revolving Loan Fund. - There is hereby created and established a Revolving Loan Fund, under the administration, control and supervision of the Board of Trustees, initially to consist of twenty million pesos; which is hereby appropriated out of any funds of the National Treasury, not otherwise appropriated, for such purpose. The sum of twenty million pesos is likewise authorized to be appropriated in the General Appropriations Act every fiscal year for the next nine years, beginning with the Fiscal Year 1973-1974, to augment and form part of said fund. All funds acquired by the Administration by grant, appropriation, borrowing or otherwise, for purposes of making loans to local water utilities shall be deposited in said Revolving Loan Fund, any may be used only for such purpose.

As principal on said loans is repaid, the same including all earnings thereof shall insure to and become a part of the fund for use solely as part thereof and for no other purpose except for debt services of the Administration.