AMENDING CERTAIN PROVISIONS OF REPUBLIC ACT NUMBERED THIRTEEN HUNDRED AND EIGHTY-SEVEN, AS AMENDED BY REPUBLIC ACT NUMBERED EIGHTEEN HUNDRED AND NINETY-THREE AND REPUBLIC ACT NU…

WHEREAS, the basic and primordial aim of the Government is
the economic development of the entire country;

WHEREAS, the Government has realigned its efforts towards
trade promotion and tourism development;

WHEREAS, tourism properly deserves the Government’s
immediate and preferential attention in the form of capital investments in
private corporations engaged in the operation and development of tourist
spots;

WHEREAS, there are government-owned and controlled
corporations with idle resources and assets;

WHEREAS, the Mindanao State University has idle assets and
resources which could he used for economic development; and

WHEREAS, the corporate powers of the Mindanao State
University as provided for in Republic Act Numbered Thirteen hundred
and eighty-seven, as amended, are not flexible enough to allow the investment of
these idle resources to endeavors geared towards, trade and tourism
development;

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 all the Armed Forces of the Philippines, and pursuant to
Proclamation No. 1081, dated September 21, 1972 continued in Proclamation No.
1104, dated January 17, 1973, and General Order No. 1, dated September 22, 1972,
as amended, do hereby order and decree:

SECTION 1. Republic Act numbered thirteen hundred and
eighty-seven, as amended by Republic Act numbered eighteen hundred and
ninety-three and Republic Act numbered thirty-eight hundred and sixty-eight, is
hereby further amended by adding the following Section after Section five
thereof, which reads as follows:

“SEC. 5-A. The Mindanao State University through the Board
of Regents, is hereby authorized to invest its resources not otherwise
appropriated, in the capital stocks of corporations engaged in the promotion and
development of tourism which include but not limited to corporations operating
and managing hotels, resorts and the like. The University, through the Board of
Regents, is further empowered to convey idle lands and dispose of its idle
assets in order to effectuate the foregoing authority. The Board of Regents
shall have the sole power to determine the corporation or corporations in which
the University shall invest its available resources.”

SEC. 2. This Decree shall take effect immediately.

Done in the City of Manila, this 21st day of July, in the year of Our Lord,
nineteen hundred and seventy-three.

			(Sgd.) FERDINAND E. MARCOS President Republic of the Philippines
	By the President:
	(Sgd.) ALEJANDRO MELCHOR
		Executive Secretary