Section 1
SECTION 1. The Ramon Magsaysay Award Foundation is hereby authorized to mortgage the parcel of land described below for the purpose of constructing a permanent building of its own: "A parcel of land with an area of approximately 3,278.50 square meters, situated in the District of Malate, City of Manila, and designated as that portion of Lot No. 3, Block No. 501, Manila Cadastre. Bounded on the northwest by the proposed extension of Calle Militar; on the southwest by Dewey Boulevard as proposed to be widened; on the northeast by M. H. del Pilar Street as proposed to be widened; and on the Southeast by Lot No. 6, Block No. 501, Manila Cadastre."