Purchase of Oriente Hotel and Expenses

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Act No. 981: Purchase of Oriente Hotel and Expenses

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Title Supreme Court: Purchase of Oriente Hotel and Expenses

Law: Act No. 981

Decision Date: Nov 6, 1903

Act No. 981 appropriates funds for the purchase of the Oriente Hotel property in Manila, with the Insular Treasury allocating $675,000 for the purchase price and an additional 2,500 pesos for insurance and incidental expenses, ensuring the property has a good and marketable title.

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Condition of Sale and Certification of Title

The purchase contract required confirmation from the Solicitor-General that the vendor, Oriente Hotel Company, holds a good and marketable title to the property.
The Solicitor-General certified the title as valid and marketable.
Upon such certification and the issuance of a properly executed conveyance, the Civil Governor is authorized to issue a payment warrant for the full purchase price in favor of the Oriente Hotel Company.

Authorization and Appropriation for Insurance and Incidental Expenses

The Civil Governor is empowered to enter into a contract for insurance covering fire and other potential hazards for one year on the purchased buildings.
An additional sum of 2,500 Philippine pesos is appropriated for paying the insurance premium and other incidental expenses related to the purchase.

Expedited Enactment Due to Public Interest

The law mandates expedited passage consistent with Section 2 of the Act prescribing the order of procedure by the Commission in law enactments dated September 26, 1900.
This reflects the public necessity for a swift purchase process.

Effectivity of the Act

The Act takes effect immediately upon its passage on November 6, 1903.
This ensures prompt implementation of the appropriations and related actions authorized by the law.

END