ChanRobles Virtual law Library
PHILIPPINE LAWS, STATUTES & CODES
A collection of Philippine laws, statutes and codes not included or cited in the main indices of the Chan Robles Virtual Law Library.
ACTS
PLEASE CLICK HERE FOR THE LATEST ➔ PHILIPPINE LAWS, STATUTES & CODES
ON-LINE
Sponsored
by: The
ChanRobles Group
A collection of Philippine laws, statutes and codes not included or cited in the main indices of the Chan Robles Virtual Law Library.
THE CHAN ROBLES VIRTUAL LAW LIBRARY - GLANCE
Philippines|Worldwide|The Business Page
ACT NO. 1034 - AN ACT PROVIDING FOR
THE ISSUE OF BONDS OF THE GOVERNMENT OF THE PHILIPPINE ISLANDS TO THE
AMOUNT OF SEVEN MILLION TWO HUNDRED AND THIRTY-SEVEN THOUSAND DOLLARS,
GOLD COIN OF THE UNITED STATES OF THE PRESENT STANDARD VALUE, FOR THE
PURPOSE OF ACQUIRING FUNDS FOR THE PAYMENT OF THE PURCHASE PRICE OF
CERTAIN LARGE TRACTS OF LAND IN THE PHILIPPINE ISLANDS, COMMONLY KNOWN
AS THE FRIAR LANDS, PURSUANT TO THE PROVISIONS OF SECTIONS SIXTY-THREE,
SIXTY-FOUR, AND SIXTY-FIVE OF THE ACT OF CONGRESS, ENTITLED "AN ACT
TEMPORARILY TO PROVIDE FOR THE ADMINISTRATION OF THE AFFAIRS OF CIVIL
GOVERNMENT IN THE PHILIPPINE ISLANDS, AND FOR OTHER PURPOSES, "APPROVED
JULY FIRST, NINETEEN HUNDRED AND TWO
WHEREAS, the Government of the Philippine
Islands, on the twenty-second day of December, nineteen hundred and
three, entered into a preliminary contract with the Philippine
Sugar-Estates Development Company, Limited, for the purchase, from the
latter, of eight haciendas containing about sixty thousand three
hundred and two hectares of January 6, 1904 lands, agreeing to pay
therefor the sum of the three million six hundred and seventy-one
thousand six hundred and fifty-seven dollars, in the money of the
United States; and also upon the same date with La Sociedad Agricola de
Ultramar, for the purchase, from the latter, of one hundred forty
hectares of lands, for the sum of two million two hundred and thirteen
thousand seven hundred and seventy-nine dollars, in the money of the
United States; and also upon the same date with the Recoleto Order of
the Philippine Islands, for the purchase, from the latter, of
twenty-three thousand two hundred and sixty-six hectares of land, for
the sum of three hundred and six thousand seven hundred and fifty-nine
dollars, in the money of the United States; and also upon the said date
with the British-Manila Estates Company, Limited, for the purchase,
from the latter, of eighteen thousand four hundred and nineteen
hectares of land, for the sum of one million and forty-five thousand
dollars, in the money of the United States, all of said contracts of
purchase being executory in character, pending examination of titles
and containing various provisions and stipulations in regard there to
which need not to be herein particularized, and all of said lands being
situated in the Philippine Islands and being particularly described in
said contracts of purchase and being lands commonly called Friar Lands,
that is, lands which were formerly owned by certain religious
orders of the Roman Catholic Church; and WHEREAS, the contracts of purchase of said haciendas and parcels of land were made by the Philippine Commission pursuant to authority vested in the Commission of Section sixty-four of the Act of Congress entitled "An Act temporarily to provide for the Administration of the affairs of civil government in the Philippine Islands, and for other purposes," approved July first, nineteen hundred and two, because, in its opinion, the holding thereof, in such large tracts or parcels, by said corporations, injuriously affects the peace and welfare of the Philippine Islands; and WHEREAS, the Government of the Philippine Islands finds it necessary to issue and sell bonds in order to raise the sum required to pay for said lands, in pursuance of said contracts: Now, therefore, By authority of the United States, be it enacted by the Philippine Commission, that: Section 1. Sec. 2. Sec. 3. Sec. 4. Sec. 5. Sec. 6. |
Since 19.07.98.