Section 1
SECTION 1. The above-described parcels of land located in Baguio City valued at seven million one hundred forty-seven thousand four hundred forty pesos (P7,147,440) are hereby conveyed, transferred and ceded to the Government Service Insurance System as additional contribution of the National Government to augment the actuarial solvency of the System's Retirement Insurance Fund, on the condition that the GSIS shall for its own account construct a convention center equipped with the essential facilities and amenities necessary to service local, regional and international conferences.