REPUBLIC ACT NO. 2239 - AN ACT AUTHORIZING THE PRESIDENT OF THE PHILIPPINES TO SELL A CERTAIN PARCEL OF LAND OF THE PRIVATE DOMAIN OF THE NATIONAL GOVERNMENT TO TH E RAMON MAGSAYSAY AWARD FOUNDATION.
Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:
SECTION 1. The President of the Philippines is hereby authorized to sell to the Ramon Magsaysay Award Foundation for the nominal price of one peso, the parcel of land owned by the Government and described below:
"A parcel of land with an area of approximates 3,278.50 square meters, situated in the District of Malate, City of Manila, and designated as that portion of Lot No. 3, Block No. 501, Manila Cadastre. Bounded on the northwest by the proposed extension of Calle Militar; on the southwest by Dewey Boulevard as proposed to be widened; on the northeast by M. H. del Pilar Street as proposed to be widened; and on the southeast by Lot No. 6, Block No. 501. Manila Cadastre." SEC. 2. This conveyance is made for the exclusive I pose of enabling the Foundation to construct on said land a permanent Ramon Magsaysay Award Foundation Bu ing of its own.
SEC. 3. The property shall not be leased but any space in the building to be constructed therein may be leased: Provided, That the proceeds for such lease shall be utilized for purposes for which the Foundation has been established.
SEC. 4. The title to and use of the land conveyed by this Act shall not be transferred by the said Foundation to another person without previous authorization by the Congress of the Philippines.
SEC. 5. In case the Ramon Magsaysay Award Foundation is dissolved or ceases for any reason to undertake its objectives or to have any need for the land, or fails to construct any building within five years after the approval of this Act, or violates any provision of this Act, the said land, including all the improvements thereon, shall ipso facto revert to the National Government without compensation.
SEC. 6. This Act shall take effect upon its approval.
Approved, June 17, 1959.
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