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A Government Promissory Note is a crucial financial instrument used by the Philippine government to raise funds for various public purposes. This document type is commonly utilized when the government needs to formalize borrowing arrangements, particularly for specific projects, emergency funding, or structured financial transactions. The note must comply with Philippine legislation, including Republic Act No. 245, the New Central Bank Act, and the Negotiable Instruments Law. It contains essential elements such as the principal amount, interest rate, payment terms, and authorized signatures from government officials. The document serves as evidence of government indebtedness and can be used in various financial arrangements, from direct borrowing to complex financial structures. Its issuance requires proper authorization from relevant government bodies and typically includes specific references to the legal basis for the borrowing.

1. Heading and Date: Official letterhead of the issuing government agency, document title 'PROMISSORY NOTE', and date of issuance

2. Promise to Pay: Unconditional promise to pay, stating the principal amount in both words and figures

3. Interest Rate: Clear specification of the interest rate, calculation method, and payment frequency

4. Payment Terms: Maturity date, payment schedule, and place of payment

5. Authority Statement: Reference to the legal authority under which the note is issued (e.g., Republic Act No. 245)

6. Fund Source: Identification of the specific fund or appropriation from which payment will be made

7. Authorized Signatures: Signature block for authorized government officials with their official designations