Creation of the PHIVIDEC Industrial Areas.
Section 3
SEC. 3. Creation of the PHIVIDEC Industrial Areas. — To further carry out the above policy, there are hereby created the PHIVIDEC Industrial Areas, hereafter referred to as the Areas, which shall hereafter be proclaimed, designated and specified by Presidential Proclamations. The public land and foreshore and offshore areas portion of the Areas so proclaimed shall be surveyed by the Bureau of Lands and conveyed in absolute ownership to the Authority, except as hereinafter provided, for the nominal sum of one peso for each parcel of land. Thereafter, the proper Register of Deeds shall register the same and issue the corresponding original certificate of title to the Authority. The first Area which the Authority shall develop shall be that located in the municipalities of Tagoloan and Villanueva in the Province of Misamis Oriental, bounded on the West by Macajalar Bay, on the North by the Taganga Creek, on the East by the Kiamo and Kirahon plateaus and the South by the Tagoloan River containing an area of 3,000 hectares more or less: Provided, however, that the foreshore area from Tagoloan River, Municipality of Tagoloan, up to the Taganga Creek, Municipality of Villanueva, and the offshore area 400 meters toward the sea from the inshore limit between the Tagoloan River and the Taganga Creek, shall be ceded, transferred and conveyed in absolute ownership to the National Steel Corp. for the nominal sum of one peso. The meters and bounds of this Area are specified in Annex "A" which is hereby made an integral part hereof. The Authority shall respect existing private rights until such time that it takes possession of the properties acquired either by voluntary or forced sale for the construction of infrastructural facilities and other facilities needed by the Area; and provided, further, that any new improvements to be introduced by landowners or claimants during this period shall be first approved by the Authority in writing.