AUTHORIZING INTERNATIONAL SCHOOL, INC. TO DONATE ITS REAL PROPERTIES TO THE GOVERNMENT OF THE REPUBLIC OF THE PHILIPPINES AND GRANTING IT CERTAIN RIGHTS.

WHEREAS, INTERNATIONAL SCHOOL, INC., is domestic educational
institution established primarily for dependents of foreign diplomatic
personnel and other temporary residents, and as such is exempt from the
provisions of Subsection (7) of Article XV, Section 8 of the
Constitution of the Philippines;

WHEREAS, in view of the widening diplomatic and commercial
relations of the Republic of the Philippines with various countries of
the world, it is essential that the continued growth of INTERNATIONAL
SCHOOL, INC. be encouraged;

WHEREAS, INTERNATIONAL SCHOOL, INC. owns valuable real
properties in Makati, Rizal, exclusively used by it for educational
purposes, which it wishes to donate without compensation to the
Government of the Republic of the Philippines;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the
Philippines, by virtue of the powers in me vested by the Constitution,
do hereby decree and order the following:

SECTION 1. The donation by INTERNATIONAL SCHOOL, INC., of
all of its existing real properties in Makati, Rizal except the
buildings thereon, to the Government of the Republic of the Philippines
on or before May 27, 1975, shall be entitled to all the tax incentives
granted under Presidential Decree No. 697, dated May 9, 1975.

SEC. 2. To enable INTERNATIONAL SCHOOL, INC. to continue
carrying out its educational program and improve its standard of
instruction, said school shall:

1. be entitled to use the real properties so donated and to
   construct and own buildings thereon exclusively for educational
   purposes without paying any rental for a period of twenty-five (25)
   years, renewable for another 25 years upon the same terms: PROVIDED,
   That after the 25-years period or, renewal period or if, for any reason,
   INTERNATIONAL SCHOOL, INC., ceases to occupy said real
   properties, all improvements thereon of a permanent nature shall belong
   to the Government of the Republic of the Philippines;
2. upon consultation with the Secretary of Education and
   Culture, shall determine its own curriculum and teach
   whatever language or languages it may deem proper and determine the
   amount of fees and assessments which may be reasonably imposed upon its
   students, to maintain or conform to the school standard of education;
3. employ its own teaching and management personnel selected by it
   either locally or abroad, from Philippine or other nationalities,
   such personnel being exempt from otherwise applicable laws and
   regulations attending their employment, except laws that have been or
   will be enacted for the protection of employees; PROVIDED,
   That such exemption shall not extend to their liability for income
   taxes;
4. whenever necessary to carry out its objectives, have the
   right to obtain leases on real properties, acquire personal properties,
   tangible or intangible, or any interests in such properties other real,
   by purchase, lease, barter, donation, gift or otherwise and dispose
   of, mortgage or encumber them for the benefit of the school
   concerned;
5. establish its own calendar of studies and work schedule
   to maximize its efficiency and promote the education of its students;
6. maintain standards of education compatible with those obtaining
   in similar schools of generally recognized standing;
7. promote international friendship, goodwill and understanding
   among the members of the foreign community and the citizens of
   the Philippines; and
8. not teach anything derogatory to the prestige and well-being of
   the Philippines and its people, nor those which will subvert its
   institutions and government.

SEC. 3. Any provision of law, rule or regulation contrary
to, or in conflict with, this Decree is hereby repealed or modified
accordingly.

SEC. 4. The Secretary of Education and Culture is hereby
authorized to accept the donation herein mentioned in behalf of the
Government of the Republic of the Philippines; This Decree is hereby
made a part of the law of the land and shall take effect on the date
hereof.

Done in the City of Manila, this 19th day of June, in the year
of Our Lord, nineteen hundred and seventy-five.