H6 PANgq' 1"^

. REPUBLIKA NG PILIPINAS

MINISTRI NG PANANALAPI MAYNILA

OFFICE OF LOCAL GOVERNMENT FINANCE MINISTRY ORDER NO. 42-86 November 12, 1986 SUBJECT:

RECLASSIFICATION OF THE MUNICIPALITY OF MAGALLANES IN THE PROVINCE OF SORSOGON EFFECTIVE JULY 1, 1986, IN ACCORDANCE WITH THE PROVISIONS OF PRESIDENTIAL DECREE NO. 465.

TO

The Regional Director for Local Government Finance, Region V, the Provincial Governor, the Sangguniang Panglalawigan, the Provincial Treasurer and the Provincial Assessor of Sorsogon, the Municipal Mayor, the Sangguniang Bayan and the Municipal Treasurer of Magallanes and Others Concerned.

.

Pursuant to Section 5 of Presidential Decree No. 465, the municipality of Magallanes in the province of Sorsogon is hereby reclassified from Fourth Class to Third Class effective July 1, 1986, on the basis of its average annual income of $796,423.04 actually realized during the last four (4) consecutive calendar years (1982-1985) as certified by the Commission on Audit under its letter dated October 15, 1986. The foregoing classification of the said municipality shall be the basis for determining the maximum amounts expendable for salaries and wages, representation allowances, administrative aids and other statutory contributions in the adoption of the annual budgets, as well as the maximum salary rates of local government officials and employees in accordance with existing law and regulations.

By authority of the Minister:

LORINDCARLOS Dir for oaj/

ISANG BANSA, ISANG DIWA, ISANG WIKA

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