Preamble
By authority of the United States, he it enacted by the Philippine Legislature, that: SECTION 1. Authority is hereby granted to construct, maintain, and operate a street railway over certain designated streets, thoroughfares, public bridges, and places in the municipality of Cebu, Province of Cebu, Philippine Islands, and the Governor-General is hereby authorized on behalf of the Government of the Philippine Islands to offer for public bidding the franchise set forth in this Act, and to grant said franchise to the best bidder, upon such terms as to percentage of gross earnings paid in lieu of Insular, provincial, and municipal taxes on the franchise and earnings thereof, which shall in no case be less than one and one-half per centum, and upon such terms and conditions as to advertisement and manner of bidding as he shall deem proper. SEC. 2. The franchise referred to in section one hereof shall be substantially in the following form: FRANCHISE.