Investment of Portion of Surplus Remaining from Sale of Friar Lands Bonds

February 10, 1913

ACT NO. 2234

AN ACT AUTHORIZING THE INVESTMENT OF A PORTION OF THE SURPLUS REMAINING FROM THE SALE OF THE FRIAR LANDS BONDS IN THE PURCHASE OF CERTAIN ADDITIONAL FRIAR LANDS, SITUATED IN THE MUNICIPALITIES OF BIÑAN AND SANTA ROSA, PROVINCE OF LAGUNA

SECTION 1. The sum of ninety thousand pesos of the balance remaining from funds realized from the sale of friar lands bonds which was, by section one of Act Numbered Seventeen hundred and forty-nine, transferred into the sinking fund is hereby restored to the friar lands bonds fund and made available in accordance with the provisions of Act Numbered One thousand and thirty-four for the purchase of certain lands belonging to the Philippine Sugar Estates Development Company, Limited, with the improvements thereon, situated in the municipalities of Biñan and Santa Rosa, Province of Laguna, which were reserved from sale by said company at the time of the purchase by the Government of the Philippine Islands of the properties known as the Santa Rosa and Biñan friar lands estates.

SECTION 2. The lands, with their improvements, situated at Biñan and Santa Rosa, Laguna, that may be acquired by purchase in accordance with this Act, shall be sold to the bona fide holders dispossessed by the Sugar Estates Development Company, the sale of said lands, however, to be subject to Act Numbered Eleven hundred and twenty and its amendments: Provided, however, That in case the Government proceeds to the sale of the edifice denominated Casa-Hacienda of Santa Rosa, the municipality of Santa Rosa, Province of Laguna, shall, other conditions being equal, have the preference for purchasing said edifice if it so desires.

SECTION 3. This Act shall take effect on its passage.

Enacted: February 10, 1913