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ACT NO. 2230
ACT NO. 2230 - AN ACT AUTHORIZING
THE ADMINISTRATOR OF THE SAN LAZARO ESTATE TO EXECUTE LONG-TERM LEASES
FOR LANDS BELONGING TO SAID ESTATE
Section 1. The Administrator of the San Lazaro Estate is
hereby authorized, upon approval of the Secretary of the Interior, to
execute leases covering lands belonging to said estate in accordance
with the following conditions;
1. All lands used for building purposes, upon which
tenants have constructed, or may hereafter construct, buildings to the
value of not less than two thousand pesos, a lease term of ten years.
2. All lands used for building purposes upon which
the tenants have constructed, or may hereafter construct, buildings to
the value of more than two thousand pesos, two additional years for
each additional one thousand pesos or portion thereof: Provided,
however, That no lease shall be executed for a longer period than fifty
years.
Sec. 2. Each lease executed in accordance with the
provisions of the foregoing section shall reserve to the San Lazaro
Estate an annual rental of five per centum of the appraised value of
the lands covered thereby, and shall contain a provision for a
reappraisement of the value of said land at the expiration of each
period of ten years during the term thereof. The reappraisement shall
be made by the city assessor and collector of Manila in the same manner
as lands of private ownership are appraised for the purpose of taxation
and any person in interest who shall feel aggrieved thereby shall have
the right of appeal to the board of tax appeals for the city of Manila,
in the manner provided in section fifty-three of Act Numbered One
hundred and eighty-three. After each reappraisement of value, as herein
provided, the rental reserved in each lease shall be readjusted for the
next succeeding period of ten years, or fraction thereof, at the rate
of five per centum per annum on the reappraised value as herein
provided.
Sec. 3. This Act shall take effect on its passage.
Enacted February 8, 1913.
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