PRESIDENTIAL DECREE No. 1574

TRANSFERRING, CEDING AND CONVEYING TO THE PHILIPPINE TOURISM AUTHORITY CERTAIN PARCELS OF LAND OF THE PUBLIC DOMAIN OF THE GOVERNMENT LOCATED IN THE TERNATE, CAVITE, FOR TOURISM DEVELOPMENT PURPOSES

By virtue of the powers vested in me by the Constitution, I, FERDINAND E. MARCOS, President of the Philippines, do hereby transfer, cede and convey to the Philippine Tourism Authority (PTA) for tourism development purposes a certain parcel of land of the public domain of the government located in Ternate, Cavite, which parcel of land is generally described as follows:

"Bounded on the North Caylabne Bay; on the East by Calumpang Naval Reservation and Puerto Azul Project; on the South by Calumpang Naval Reservation; and on the West by Calumpang Naval Reservation,"

consisting of one hundred twenty five (125) hectares, more or less, subject to more precise survey which shall be deemed part of this decree.

The PTA may not alienate the land or any portion thereof without the prior authority of the President of the Philippines, although it may encumber the same with any government financing institution for development purposes.

All laws, Proclamation No. 307 date November 20, 1967, orders and regulations inconsistent herewith are hereby repealed and modified accordingly.

This Decree shall take effect immediately.

Done in the City of Manila, this 11th day of June, in the year of Our Lord, nineteen hundred and seventy-eight.