SECTION 1. There is hereby authorized to be appropriated out of the General Funds of the National Treasury not otherwise appropriated, an amount of Eight million pesos for the necessary buildings and other physical facilities of the Philippine Executive Academy. The amount of eight million pesos so appropriated shall be released to the Philippine Executive Academy of the Graduate School of Public Administration, University of the Philippines in the following manner:
Two million five hundred thousand pesos in the fiscal year nineteen hundred sixty-five to nineteen hundred sixty-six;
Two million five hundred thousand pesos in the fiscal year nineteen hundred sixty-six to nineteen hundred sixty-seven; Two million pesos in the fiscal year nineteen hundred sixty-seven to nineteen hundred sixty-eight; and
One million pesos in the fiscal year nineteen hundred sixty-eight to nineteen hundred sixty-nine.
Any provision of existing law to the contrary notwithstanding, the appropriations herein provided shall continue to be available until after the projects to be undertaken shall have been completed.