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PRESIDENTIAL DECREE NO. 502
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PRESIDENTIAL DECREE NO. 502
- AUTHORIZING THE PURCHASE BY THE NATIONAL GOVERNMENT FROM THE NATIONAL
POWER CORPORATION OF A STRIP OF LAND CONSISTING OF A TOTAL AREA OF
95,732 SQUARE METERS, MORE OR LESS, SITUATED IN MAKATI, RIZAL
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chanroblesvirtualawlibrary
WHEREAS,
the National Power Corporation desire to dispose of a strip of land
situated in Makati, Rizal, formerly used as right-of-way for its former
Caliraya transmission lines, consisting of a total area of 95,732
square meters of 9.5732 hectares, more or less, as indicated in the
attached plans. chanroblesvirtualawlibrary
WHEREAS, the National Government has urgent need for this property in
connection with the proposed master drainage canal and sewer system of
the Greater Manila Area and other undertakings of national interest
such as the mass transit system.
NOW, THEREFORE. I, FERDINAND E, MARCOS, President of the Philippines,
by virtue of the powers vested in me by the Constitution as
Commander-in-Chief of the Armed Forces of the Philippines and pursuant
to Proclamation No. 1081 dated September 21, 1972 and General Order No.
1 dated September 22, 1972, as amended, and in order to effect the
desired changes and reforms in the social, economic and political
structure of our society, do hereby order and decree that the amount of
Fifteen Million Pesos (P15,000,000.00) be appropriated, as it is hereby
appropriated out of the unappropriated funds of the National Government
and that said amount be immediately made available to the National
Power Corporation as payment by the National Government for the strip
of land above-mentioned for which the National Power Corporation shall
execute the necessary muniments of title to transfer the ownership of
the property to the National Government.
This Decree shall take effect immediately.
Done in the City of Manila,
this 28th day of June, in the year of Our Lord, nineteen hundred and
seventy-four.
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Since 19.07.98
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