PRESIDENTIAL DECREE NO. 1085
CONVEYING THE LAND RECLAIMED IN THE FORESHORE AND OFFSHORE OF THE MANILA BAY (THE MANILA-CAVITE COASTAL ROAD PROJECT) AS PROPERTY OF THE PUBLIC ESTATES AUTHORITY AS WELL AS RIGHTS AND INTERESTS WITH ASSUMPTIONS OF OBLIGATIONS IN THE RECLAMATION CONTRACT COVERING AREAS OF THE MANILA BAY BETWEEN THE REPUBLIC OF THE PHILIPPINES AND THE CONSTRUCTION AND DEVELOPMENT CORPORATION OF THE PHILIPPINES
WHEREAS, the National Government acting through the Department of Public Highways is presently undertaking pursuant to the provisions of Section 3 (m) of Republic Act No. 5137 as amended by Presidential Decree No. 3-A, the reclamation of a portion of the foreshore and offshore areas of the Manila Bay from the Cultural Center of the Philippines passing through Pasay City, Parañaque, Las Piñas, Zapote, Bacoor up to Cavite City:
WHEREAS, in the implementation of the above-cited laws, bidding was held for the reclamation works and the corresponding contract awarded to the Construction and Development Corporation of the Philippines;
WHEREAS, it is in the public interest to convert the land reclaimed into a modern city and develop it into a governmental, commercial, residential and recreational complex and this is better accomplished through a distinct entity organized for the purpose;
NOW, THEREFORE, I , FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby decree and order the following:
The land reclaimed in the foreshore and offshore areas of Manila Bay pursuant to the contract for the reclamation and construction of the Manila-Cavite Coastal Road Project between the Republic of the Philippines and the Construction and Development Corporation of the Philippines dated November 20, 1973 and/or any other contract or reclamation covering the same area is hereby transferred, conveyed and assigned to the ownership and administration of the Public Estates Authority established pursuant to P.D. No. 1084, provided, however, that, the rights and interest of the Construction and Development Corporation of the Philippines pursuant to the aforesaid contract shall be recognized and respected.
Henceforth, the Public Estates Authority shall exercise the rights and assume the obligations of the Republic of the Philippines (Department of Public Highways) arising from, or incident to, the aforesaid contract between the Republic of the Philippines and the Construction and Development Corporation of the Philippines.
In consideration of the foregoing transfer and assignment, the Public Estates Authority shall issue in favor of the Republic of the Philippines the corresponding shares of stocks in said entity with an issued value of ______________________. Said shares of stock shall be deemed fully paid and non-assessable.
The Secretary of Public Highways and the General Manager of the Public Estates Authority shall execute such contracts or agreements, including appropriate agreements with the Construction and Development Corporation of the Philippines, as may be necessary to implement the above.
Special land patent/patents shall be issued by the Secretary of Natural Resources in favor of the Public Estates Authority without prejudice to the subsequent transfer to the contractor or his assignees of such portion or portions of the land reclaimed or to be reclaimed as provided for in the abovementioned contract. On the basis of such patents, the Land Registration Commission shall issue the corresponding certificate of title.
IN WITNESS WHEREOF, I have hereunto set my hand and caused the seal of the Republic of the Philippines to be affixed.
DONE in the City of Manila, this 4th day of February, in the year of Our Lord, Nineteen Hundred and Seventy-Seven.
(SGD.) FERDINAND E. MARCOS
President of the Philippines
By the President:
(SGD.) JUAN C. TUVERA