Section 11
SEC. 11. Whenever the Cebu Employees, Laborers, Fishermen and Peasants Housing Corporation shall certify to the President of the Philippines that it is to the public interest to expropriate private lands in the city or populous towns of Cebu or adjacent thereto for the purpose of subdividing the same into small lots and leasing and selling the lots to individuals, the President may authorize the Cebu Employees, Laborers, Fishermen and Peasants Housing Corporation to exercise the right of eminent domain, the land to be expropriated immediately, upon deposit with the court of an amount equal to the assessed value of such land, as declared by the owner and approved by the provincial assessor, in accordance with the provisions of laws.