Be it
enacted by the Senate and House of Representatives of the Philippines
in the Legislature assembled and by the authority of the same.
Section 1. Such portion or portions of the public
domain not exceeding ten thousand hectares as may be determined as
hereinafter provided are hereby granted and ceded to the University of
the Philippines to be held and administered as a permanent endowment
for additional support and a maintenance of said institution.
Sec. 2. The Board of Regents of the University of
the Philippines is hereby empowered to designate, by resolution, the
site or sites in the different provinces of the Philippine island which
are to be allocated for the purposes of this Act, and to transmit the
same to the Secretary of Agriculture and Natural Resources. If the
Secretary of Agriculture and Natural Resources is satisfied that the
lands thus designated are unreserved, unoccupied, or unapplied for
under the Public Land Laws, and are suitable for purposes of this Act,
he shall cause the survey of said land by the Bureau of lands, the cost
of such survey to be borne by the University of the Philippines. On the
completion of the survey of said site, the same shall be deeded,
conveyed, and transferred to the University of the Philippines by the
Director of Lands.
Sec. 3. The control and administration of these
land grants is hereby vested permanently in the Board of Regents of the
University of the Philippines: Provided, however, that said control and
administration shall not empower said Board to sell or alienate all or
any portions of these lands without the previous consent of the
Philippine Legislature, but otherwise, it may perform any act or enter
into any contract regarding the same, subject to and in accordance with
the revisions of the Public Land Law and Corporation Law.
Sec. 4. All incomes, receipts and profits derived
from the Administration of this land grants shall form part of the
general fund of the University of the Philippines and be subject to
appropriation by the Board of Regents of said institution and devoted
only for the purposes for which said University was established.
Sec. 5. Such portion or portions of the land
herein granted which are not developed, cultivated, leased, or
otherwise disposed of, after the lapse of ten years from the date in
which such lands have been deeded, conveyed, and transferred in
accordance with this Act, shall revert to the public domain and shall
be open for settlement and disposition in accordance with the Public
Land Act.
Sec. 6. This Act shall take effect upon its
approval.
Approved: February 8, 1930
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