Section 5
SEC. 5. Powers and Duties of the Governing Board. The Board of Trustees shall have the following powers and duties in addition to its general powers of administration, and the exercise or all powers of a corporation provided in Section Thirteen of the Corporation Law. To determine and fix the dates and time of their regular meetings as well as special meetings as the need for the same may arise: Provided, That all such meetings shall not be more than twice in a month, nor less than once in any quarter. To recommend the President of the State College for appointment by the President of the Philippines, who shall serve for a period of six years, subject to reappointment provided that his term of office shall not extend beyond the age of sixty-five. To appoint, upon the recommendation of the President of the State College the Vice President, Executive Director, the Directors of the different Institutes, Heads of Departments, Professors, professorial lecturers, visiting or exchange faculty and other officers and employees whose basic salaries are at least equal to that of an Assistant Professors; to fix their compensation, hours of services, and such other duties and conditions as it may deem proper, subject to pertinent budget and compensation laws. 4) To provide for the establishment of the Institute of Marine Sciences, Graduate School and the School of Development Management and other institutes and schools as it may deem necessary. To approve curriculars programs and rules of discipline drawn by the College Council; fix the required tuition fees, matriculation fees, fees for laboratory courses, graduation fees and all other fees, and to reappropriate and utilize the same for the operation of the State College. To manage funds for the operation of income generating projects, and to promulgate policies, rules and regulations for the operation and management of said projects. To authorize the construction and repair of buildings and related facilities, and other permanent improvements under the direct administrative supervision of the State College, upon recommendation of the President. To promulgate other policies, rules and regulations not specified in the preceding items for the effective and efficient governance of the State College. To delegate certain authorities to the President of the State College as it may deem appropriate and prescribe rules under which the President can enter into contracts without prior approval of the Board for acquisition of properties and services, and the purchase of equipment and supplies not exceeding a certain cost of value, which the Board may later prescribe; Provided, that all such contracts shall be reported to the Board. To confer the usual honorary degrees upon persons other than graduates of the State College in recognition of learning, exemplary performance, eminence or outstanding contribution in fisheries, marine sciences, maritime technology and development management; Provided, that such degrees, shall not be conferred in consideration of the payment of money or other valuable considerations; and To file with the Office of the President and Prime Minister of the Philippines, a detailed report of operations of the State College for the preceding year on or before the thirty-first day of March of each year.