Full Title
AN ACT TO PROVIDE FUNDS FOR THE EXTENSION OF THE LINES OF THE MANILA RAILROAD COMPANY.
Congress
4th Philippine Legislature
Date of Approval
February 16, 1919

Other Details

Issuance Category
Legislative Issuance
Legislative Issuance Type
ACT
Subjects
MANILA RAILROAD COMPANY
Railways
Railway lines
Railroads
Railroad
Major Topic
Transportation

Official Gazette

Official Gazette Source
Official Gazette vol. 17 no. 17 page 737 (4/23/1919)

Full Text of Issuance

[ Act No. 2790, February 17, 1919 ]

AN ACT TO PROVIDE FUNDS FOR THE EXTENSION OF THE LINES OF THE MANILA RAILROAD COMPANY.

Be it enacted by the Senate and House of Representatives of the Philippines in Legislature assembled and by the authority of the same:SECTION 1. The Insular Treasurer is hereby authorized, upon the order of the Secretary of Finance and with the approval of the Governor-General, to lend to the Manila Railroad Company out of the unappropriated general funds of the Insular Treasury for a period not exceeding ten years, the sum of two million pesos to be secured by bonds of the Manila Railroad Company with interest at three and one half per centum per annum for the extension of the present line from Calauag, south to Guinayangan, or other suitable terminal; for the extension of the Legaspi lines from Iriga, north; for the extension of the Northern lines into the Cagayan Valley, and for the purchase of such additional equipment and rolling stock as may be necessary. Said loan shall constitute a lien on the property of the Manila Railroad Company subject only to prior liens thereon at the time such loan is made.SEC. 2. This Act shall take effect on its approval.Approved, February 17, 1919.

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