Section 5Sec./Art. 5

Biliran Tourism Development Trust Fund. There is hereby established a trust fund under this Act to be known as the Biliran Tourism Development Trust Fund for purposes of financing projects which shall enhance tourism in the Province of Biliran. The Trust Fund shall be administered by a Trust Fund Administrator under the Provincial Tourism Council of Biliran. Income shall be derived from fees from visitors/tourists, fees from permitted sale and export of flora and fauna and other resources from the province, proceeds from the registration and lease of multiple-use areas, including tourism concessions, fees, proceeds, and contributions from industries and facilities directly benefiting the province.

The Trust Fund may be augmented by grants and donations, endowment from various sources, domestic or foreign entities and individuals, for purposes related to their functions: Provided, That disbursements therefrom shall be in accordance with existing accounting and auditing rules and regulations: Provided, further, That the Trust Fund shall not be used to cover personal services expenditures.