Republic Acts1 min read
Section 19Sec./Art. 19
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Bond Limits.- The bonds that may be issued by the Authority shall in no case exceed the total amount of One billion pesos (P1,000,000,000):Provided,That no single issue shall be made if at least seventy percent (70%) of the immediately preceding issue is not yet sold.
The bonds shall be issued only in such amounts as will be needed at only one (1) integral operation not exceeding one (1) year duration, taking into account the state at which said bonds may be absorbed by the buying public and the fund requirements of the project ready for execution, and considering further a proper balance between productive and nonproductive projects so that inflation shall be held to a minimum.
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