Section 2
SEC. 2. The purposes for which the Cebu Employees, Laborers, Fishermen and Peasants Housing Corporation is created are: The acquisition, development, improvement, construction, leasing and selling of lands and buildings or any interest therein in the City of Cebu and populous towns of said province, with the object of providing decent housing for those employees, laborers, fishermen and peasants, who may be found unable otherwise to provide themselves therewith; The promotion of the physical, social, and economic betterment of the inhabitants of the City of Cebu and populous towns of the Province of Cebu, by eliminating therefrom slums and by providing homes at low cost to replace those which may be so eliminated; and The provision of community and institutional housing for destitute individuals and families and for paupers.