Section 5
SEC. 5. Whenever any private person or corporation shall make representations satisfactory to the Governor-General in regard to their financial standing and ability to purchase and manage the property, and to fulfill the requirements of the franchise in regard to extensions and service to the public and their willingness to purchase and pay for the property not less than the cost to the Government, it shall be the duty of the Secretary of Commerce and Police to offer the system at public auction and sell the same to the highest bidder for a sum not less than the cost thereof.