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| REPUBLIC ACT NO. 470 - 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 |
| Section 1. The
Manila Railroad Company is hereby authorized to incur an indebtedness
not exceeding forty-five million pesos from any funds under the control
of the Government or of any corporation of instrumentality owned or
controlled by the Government, on the guarantee of the Government of the
Republic of the Philippines, at such shall be agreed upon at the time
of entering into each loan contract, for the rehabilitation and
restoration of its branch lines from Ligao to Tabaco, Albay, Calamba,
Laguna to Batangas, Batangas and from any point in Albay Province to
Sorsogon as deemed advisable and feasible by the company or in such
other places as the company may deem fit to reestablish its branch
lines, extension of its terminal at San Jose, Nueva Ecija, to Daet,
Camarines Norte, to Echague, Isabela, to Aparri, Cagayan, to Tagudin,
Vigan, Sinait, Ilocos Sur, or any extension of its lines at such other
points as the company may deem convenient and suitable for its
business, purchase of locomotives, cars, rails, ties and other
equipment and accessories of railroad transportation, and for any other
purposes of the Manila Railroad Company including the development and
promotion of the tourist industry in the Philippines: Provided, That
the extension of its terminal shall not be placed within one hundred
meters, parallel to any national highway. Section 2. This Act shall take effect upon its approval. Approved: June 9, 1950 |
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