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 by 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All laws, Proclamation No. 307 dated November 20, 1967, orders and regulations inconsistent herewith are hereby repealed and modified accordingly.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.
(Sgd.) FERDINAND E. MARCOS
President of the Philippines
By the President:
(Sgd.) JACOBO C. CLAVE
Presidential Executive Assistant