An Act to Authorize The Manila Railroad Company to Discontinue Its Railroad Line Between The Municipalities of Taytay and Antipolo, Province of Rizal, and for Other Purposes
Act No. 2748, approved on February 21, 1918, authorizes the Manila Railroad Company to discontinue its railroad line between Taytay and Antipolo in Rizal Province. The Act allows the company to sell the associated real and personal property in a manner they deem most advantageous. Proceeds from the sale must be applied according to the terms of the mortgages protecting the bondholders. The Act takes effect immediately upon approval.
Law Information
- Reference Number
- Act No. 2748
- Date Enacted
- Category
- Statutes
- Subcategory
- Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
February 21, 1918
ACT NO. 2748
AN ACT TO AUTHORIZE THE MANILA RAILROAD COMPANY TO DISCONTINUE ITS RAILROAD LINE BETWEEN THE MUNICIPALITIES OF TAYTAY AND ANTIPOLO, PROVINCE OF RIZAL, AND FOR OTHER PURPOSES
SECTION 1. The Manila Railroad Company is hereby authorized to discontinue its line of railroad between the municipalities of Taytay and Antipolo, in the Province of Rizal, and to dispose of the property real and personal appertaining to said lines in such manner and upon such terms as may be deemed most advantageous to the interests of the Manila Railroad Company by the directors of said company and the trustee of the mortgage covering said property. The proceeds of the sale of such property as is covered by the mortgages to protect the bond holders, shall be applied as in said mortgage provided.
SECTION 2. This Act shall take effect upon its approval.
Approved: February 21, 1918.
Cite This Law
An Act to Authorize The Manila Railroad Company to Discontinue Its Railroad Line Between The Municipalities of Taytay and Antipolo, Province of Rizal, and for Other Purposes, Act No. 2748, Feb 21, 1918 (Philippines)
An Act to Authorize The Manila Railroad Company to Discontinue Its Railroad Line Between The Municipalities of Taytay and Antipolo, Province of Rizal, and for Other Purposes, Act No. 2748 (Phil. 1918)
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