By virtue of the powers vested in me by the Constitution, I, FERDINAND E. MARCOS, President of the Republic of the Philippines, do hereby transfer, cede and convey to the Philippine Tourism Authority, for tourist development purposes, a parcel of land of the public domain designated as Lot 2, Sgs-09-01-000001, situated in Pasonanca, Zamboanga City, and more particularly described in Proclamation No. 1324 dated September 26, 1974.

The Director of Lands shall issue a special patent in favor of the Philippine Tourism Authority subject to the following conditions:

That the Philippine Tourism Authority may not transfer title thereto or any portion thereof, without the consent of the President of the Philippines, although it may encumber the same with any government financing institution for its development;

This decree shall take effect immediately.

Done in the City of Manila, this 5th day of March, in the year of Our Lord, nineteen hundred and seventy-five.