Declaration of policy.
SECTION 1. Declaration of policy.—It is the policy of this Authority to lead, promote, and accelerate the development and balanced growth of the Laguna Lake area and the surrounding provinces, cities and towns hereinafter referred to as the region, within the context of the national plans and policies for social and economic development.
Laguna Lake Development Authority created.
SEC. 2. Laguna Lake Development Authority created.— For the purpose of carrying out and effecting the declared policy, as provided for in Section one hereof, there is hereby created a body corporate to be known as the Laguna Lake Development Authority, hereinafter to as the Authority, which shall be organized within one hundred twenty referred(120) days after the approval of this Act. The Authority shall execute the powers and functions herein vested and conferred upon it in such a manner as will, in its judgment, aid to the fullest possible extent in carrying out the aims and purposes set forth below. This Act may be known as the Laguna Lake Development Authority Act of 1966.
Location of principal office.
SEC. 3. Location of principal office.—The Authority shall maintain its principal office at a convenient place within the region, but it may have branch offices in such other places as are necessary for the proper conduct of its business.