Republic Act No. 1276: An act authorizing the national resettlement and rehabilitation administration (narra) to expropriate the hacienda del rosario, situated at valdefuente, cabanatuan city, and subdivide said hacienda into lots to be sold to bona fide occupants thereof

Republic Act No. 1276

An act authorizing the national resettlement and rehabilitation administration (narra) to expropriate the hacienda del rosario, situated at valdefuente, cabanatuan city, and subdivide said hacienda into lots to be sold to bona fide occupants thereof

An Act Authorizing the National Resettlement and Rehabilitation Administration (Narra) to Expropriate the Hacienda Del Rosario, Situated at Valdefuente, Cabanatuan City, and Subdivide Said Hacienda into Lots to be Sold to Bona Fide Occupants Thereof

In plain language

An act authorizing the National Resettlement and Rehabilitation Administration (NARRA) to expropriate the Hacienda del Rosario in Cabanatuan City, subdivide it into lots not exceeding one hectare, and sell those lots to bona fide occupants under specified terms.

Expropriation of Hacienda del Rosario within six months from approval

Subdivision of the hacienda into lots not larger than one hectare

Resale of lots to bona fide occupants

Purchase price payable in installments within ten years

Resettlement

Expropriation

Land Reform

REPUBLIC ACT No. 1276

An Act Increasing the Limit of the Bonded Indebtedness of the Metropolitan Water District from Thirty Million Pesos to Forty Million Pesos, Amending for the Purpose Subsection (m) of Section Two of Act Numbered Twenty-Eight Hundred Thirty-Two, as Amended

Be it enacted by the Senate and House of Representatives of the Philippine Congress Assembled:

Section 1

Subsection (m) of section two of Act Numbered Twenty-eight hundred and thirty-two, as amended by Commonwealth Act Numbered Four hundred thirty-eight and Republic Act Numbered Eleven hundred forty-nine, is further amended to read as follows:

> "(m) When essential to the proper administration of its corporate affairs or necessary for the proper transaction of its business or to carry out the purposes for which it was organized, to contract indebtedness and issue bonds, subject to the approval of the Secretary of Finance. The bonded indebtedness of the District, of all classes, shall not at any time exceed forty million pesos, and the issue thereof shall be subject to the conditions set forth in section five of this Act, as amended."

Section 2

This Act shall take effect upon its approval.

Approved: June 14, 1955.

For information and research only, and not legal advice. This text may not reflect later amendments. For certified copies, refer to the Official Gazette or the issuing agency.