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.
Republic Acts :
REPUBLIC ACTS
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REPUBLIC ACT NO. 1867 - AN
ACT APPROPRIATING THE SUM OF SIX MILLION PESOS ANNUALLY FOR FIVE YEARS
AND AUTHORIZING THE ALLOCATION OF TWELVE MILLION PESOS OF REPARATIONS
FROM JAPAN ANNUALLY FOR FOUR YEARS FOR THE EXTENSION BY THE MANILA
RAILROAD COMPANY OF ITS LINES FROM THE MUNICIPALITY OF SAN JOSE,
PROVINCE OF NUEVA ECIJA, TO THE MUNICIPALITY OF TUGUEGARAO, PROVINCE OF
CAGAYAN |
WHEREAS, by Republic Act Numbered
Four hundred seventy, entitled "An Act to authorize the Manila Railroad
Company to incur an indebtedness of forty-five million pesos for the
rehabilitation, restoration and extension of its lines," approved June
nine, nineteen hundred and fifty, Congress has authorized the Manila
Railroad Company to extend its lines from San Jose, Nueva Ecija, to
Aparri, Cagayan; WHEREAS, the Manila Railroad Company is not in a financial position to undertake the extension of its lines to Cagayan Valley nor is it able to obtain sufficient loans under said Act; and WHEREAS, it has been a declared policy of the Government that the Manila Railroad Company extend its lines to the Cagayan Valley within a period of five years; Now therefore, Section 1. The sum of six million pesos is hereby appropriated annually for a period of five years, beginning with the fiscal year nineteen hundred and fifty-seven - nineteen hundred and fifty-eight, out of any funds in the National Treasury not otherwise appropriated, for the extension by the Manila Railroad company of its lines from the Municipality of San Jose, Nueva Ecija, to the Municipality of Tuguegarao, Province of Cagayan.cralaw Sec. 2. The amount made available for expenditure for each fiscal year under the provisions of this Act shall be converted into subscription by the Government in the capital stock of the Manila Railroad Company.cralaw Sec. 3. To enable it to carry out the objectives of this Act and to meet its requirements, the Manila Railroad Company is hereby authorized to receive an annual allocation of twelve million pesos of reparations from Japan for a period of four years from the date of approval of this Act. Sec. 4. This Act shall take effect upon its
approval.cralaw Approved: June 22, 1957 |