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H. No. 600 / 51 OG No. 7, 3334 (July, 1955)
[ REPUBLIC ACT NO. 1266, June 11, 1955 ]
AN ACT AUTHORIZING THE NATIONAL RESETTLEMENT AND REHABILITATION ADMINISTRATION (NARRA) TO EXPROPRIATE THE HACIENDA DEL ROSARIO, SITUATED AT VALDEFUENTE, CABANATUAN CITY, AND SUP DIVIDE SAID HACIENDA INTO LOTS TO BE SOLD TO BONA FIDE OCCUPANTS THEREOF.
Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:
SECTION 1. The National Resettlement and Rehabilitation Administration (NARRA) is hereby authorized to expropriate within six months from the approval of this Act, the Hacienda dei Rosario situated at Valdefuente Cabanatuan City, and pay the price of the land and cost of such expropriation out of its funds. The said hacienda shall be subdivided into lots not bigger than one hectare each and resold to bona fide occupants thereof at such price as may be determined by the Board of Directors of the NARRA which shall include the price of the land ana the cost of such expropriation, administration, subdivision, resale and interests. The purchase price of tht resale to bona fide occupants shall be payable in installments within the period of not more than ten years.
SEC. 2. This Act shall take effect upon its approval.
Approved, June 11, 1955.
SECTION 1. The National Resettlement and Rehabilitation Administration (NARRA) is hereby authorized to expropriate within six months from the approval of this Act, the Hacienda dei Rosario situated at Valdefuente Cabanatuan City, and pay the price of the land and cost of such expropriation out of its funds. The said hacienda shall be subdivided into lots not bigger than one hectare each and resold to bona fide occupants thereof at such price as may be determined by the Board of Directors of the NARRA which shall include the price of the land ana the cost of such expropriation, administration, subdivision, resale and interests. The purchase price of tht resale to bona fide occupants shall be payable in installments within the period of not more than ten years.
SEC. 2. This Act shall take effect upon its approval.
Approved, June 11, 1955.