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Palau Water and Sewer Loan Approval Act, RPPL 8-30 2011

PALAU

EIGHT OLBIIL ERA KELULAU
RPPL NO. 8-30
Eighth Regular Session, October 2010
(Introduced as House Bill No. 8-98-8, SD3)

AN ACT

To approve, authorize, and ratify the authority of the President of the Republic of Palau to secure a loan, on behalf of the Republic of Palau, for purposes associated with the establishment and operation of the Palau Water and Sewer Corporation and reforms to the water and sanitation sector, and for other related purposes.

THE PEOPLE OF PALAU REPRESENTED IN THE OLBIIL ERA KELULAU DO ENACT AS FOLLOWS:

Section 1. Short title. This Act may be cited as the APalau Water and Sewer Loan Approval Act@.

Section 2. Findings. The Olbiil Era Kelulau finds that the effective establishment and operation of the Palau Water and Sewer Corporation requires that adequate funding be secured for all purposes associated with the government reforms in the water and sanitation sector. The Olbiil Era Kelulau further finds that the loan offered under the arrangement with the Asian Development Bank related to the government=s Water Sector Improvement Program will provide an appropriate source of funds for these purposes.

Section 3. Loan Authorization. The President of the Republic of Palau is hereby authorized to negotiate, execute, and deliver, on behalf of the Republic of Palau, pursuant to the loan documents developed by the Republic of Palau and the Asian Development Bank regarding Asian Development Bank project number 44031, a loan of $16 million U.S. dollars from the Asian Development Bank supporting the establishment of the Palau Water and Sewer Corporation and related matters, and to negotiate and execute related documentation as may be required by the Asian Development Bank, with respect to said loan. From the loan funds the amount of $6 million U.S. dollars shall be advanced to the Palau Water and Sewer Corporation in accordance with a financial agreement made between the Government and the Palau Water and Sewer Corporation.

Section 4. Amendment. To amend Section 6 of RPPL 8-18, AThe Fiscal Year 2011 Annual National Budget Authorization and Appropriation Act@, as amended by RPPL 8-29, AThe Fiscal Year 2011 Supplemental Budget Authorization and Appropriation Act@, to state as follows:

ASection 6. State Block Grants. The sum of $4,822,000 is hereby authorized to be appropriated and is hereby appropriated for expenditure or obligation for Fiscal Year 2011 for the purpose of the State Governments= operational and capital improvement projects expenses. The entire amount of funds authorized to be appropriated, and which are hereby appropriated, shall come from local revenues and other revenue sources, including the revenue sources enumerated in Section 2 of the Fiscal Year 2011 Supplemental Budget Authorization and Appropriation Act. The amount authorized for appropriation shall be available for expenditure for operations and CIP projects in accordance with 40 PNC Chapter 22 and shall not lapse at the end of Fiscal Year 2011; rather, the funds authorized and appropriated pursuant to this Section shall be disbursed from the National Government to the State Governments by the end of Fiscal Year 2012. The total authorization and total appropriation shall be...@

Section 5. Continuing Budget Authority.
(a) Pursuant to 40 PNC ' 327, as amended by RPPL No. 6-11, continuing budget authority for Fiscal Year 2012 is hereby enacted for all regular budget activities for operations of the national government. Continuing budget authority shall provide funding at the level of appropriations of Fiscal Year 2011 as enacted in RPPL 8-18, as amended by RPPL 8-29.

(b) This continuing budget authority shall begin on October 1, 2011 and expire on December 31, 2011; however, the Senate and the House may agree to extend this continuing budget authority if it is necessary.

Section 6. Effective Date. This Act will take effect upon its approval by the President or upon its becoming law without such approval, except as otherwise provided by law.

PASSED: September 29, 2011

Approved this 30th day of September , 2011.

  /s/
HE Johnson Toribiong
President
Republic of Palau