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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 633 -
INCREASING THE CAPITALIZATION OF THE HUMAN SETTLEMENTS DEVELOPMENT
CORPORATION
WHEREAS, the Ministry of Human
Settlements has consistently and successfully pursued its shelter and
livelihood projects under the BLISS programs creating not only fresh
strategic solutions but also new financial and liquidity approaches to
the housing and income-generation problems of the government;
WHEREAS, the Human Settlements Development Corporation, an implementing
corporate agency of the Ministry of Human Settlements has likewise
succeeded in providing support services and financial conduits to the
Ministry’s various programs including the BLISS and other land
development programs;
WHEREAS, the continued and sustained implementation of the Ministry’s
programs that requires corporate flexibilities may exhaust HSDC
resources;
WHEREAS, it has now become necessary to increase the capitalization of
the Human Settlements Development Corporation;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers vested in me by the Constitution, do hereby
order and amend Presidential decree No. 1396 as follows:
“Sec.
10.
Additional capitalization in the
nature of (a) properties as may be contributed to the Corporation by
the government through further Presidential Proclamation designating
Bagong Lipunan sites and other prototype project sites, (b) all
capitalized surplus, (c) contributions by government financial
institutions are also hereby authorized.”
This Order shall be effective immediately.
Done in the City of Manila, this 29th day of November, in the year of Our Lord, nineteen hundred and eighty.
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Since 19.07.98.