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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 187 - ADJUSTING
THE DIVIDEND RATE OF LAGUNA LAKE DEVELOPMENT AUTHORITY ON ITS 1998
EARNINGS PURSUANT TO Sec. 5 OF REPUBLIC ACT NO. 7656
WHEREAS,
Section 1 of Republic Act No. 7656 provides that:
“Section 1.
WHEREAS, to support the viability and mandate of Laguna Lake Development Authority (LLDA), the liquidity, retained earnings position and capital expenditure programs of LLDA was considered in the determination of the reasonable dividend rate of said corporation on its 1998 net earnings;
WHEREAS, pursuant to Sec. 5 of RA 7656, the Secretary of Finance recommended the adjustment on the percentage of annual net earnings that shall be declared by the LLDA in the interest of national economy and general welfare;
NOW THEREFORE, I, JOSEPH E. ESTRADA., President of the Philippines, by virtue of the powers vested in me by law, do hereby order:
Section 1.
Sec. 2.
Sec. 3. Since 19.07.98.
DONE in the City of Manila,
this 17th day of December, in the year of Our Lord, Nineteen Hundred
and Ninety-Nine.
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