Powers and functions of the Authority.
Section 6
SEC. 6. Powers and functions of the Authority.—The Authority shall have the following powers and functions to be exercised by the Board in accordance with the established national human settlements plan prepared by the Human Settlements Commission: Develop and implement the comprehensive and integrated housing program provided for in Section 1 hereof; Formulate and enforce general and specific policies for housing development and resettlement; Prescribe guidelines and standards for the reservation, conservation and utilization of public lands identified for housing and resettlement; Exercise the right of eminent domain or acquire by purchase privately owned lands for purposes of housing development, resettlement and related services and facilities; Develop and undertake housing development and/or resettlement projects through joint ventures or other arrangements with public and private entities; Issue bonds or contract loans, credits, or indebted ness, including suppliers credit or any deferred payment arrangements with any person or entity, domestic or foreign, for the implementation of its housing programs; Discharge all responsibilities of the government as may arise from treaties, agreements, and other commitments on housing and resettlement to which it is a signatory, including the determination of forms of assistance for housing development to be extended through multilateral or bilateral assistance programs; Promote housing development by providing technical assistance; Sue and be sued; Adopt and use a seal which shall be judicially noticed; Enter into contracts whenever necessary under such terms and conditions as it may deem proper and reasonable; Acquire property rights and interests, and encumber or otherwise dispose the same as it may deem appropriate; Invest its funds, as it may deem proper, in bonds and securities issued and guaranteed by the government or by the Central Bank of the Philippines; Receive donations, grants, and bequests and utilize the same for the attainment of its objectives. Such donations, grants, and bequests shall be exempt from the payment of transfer taxes and be fully deductible from the gross income of the donor or grantor for income tax purposes; Adopt its by-laws to supplement this Decree; Prescribe and enforce guidelines, standards and rules in the manner provided for in such rules and regulations promulgated and adopted by the Authority designed to protect home and lot buyers through the regulation of the real estate trade and business; Regulate the relationship between owners and lessees of residential properties in conformity with such rules and regulations as may be promulgated and adopted by the Authority; Promulgate, adopt, amend and/or repeal such rules and regulations necessary to implement the intent and purposes of this Decree. Such rules and regulations shall be submitted to the President for his approval. Upon approval, the same shall have the force and effect of law and shall take effect immediately after their publication three times a week for two weeks in any newspaper of general circulation; and Perform such other acts not inconsistent with this Decree, as may be necessary to effect the policies and objectives herein declared.