Exemption of Certain Lands from Sale or Lease for Public Service
- Provincial or municipal governments, branches of the Insular Government, or other government entities may petition the Governor-General.
- Upon such petition, the Governor-General may exempt unsold or vacant lands from lease, sale, or other disposition by issuing an executive order.
- These exempted lands must be utilized for public service or use.
Payment Obligations for Reserved Properties
- The involved government entity must pay the full value of the reserved property plus any accrued interest to the friar lands sinking fund.
- An exception exists where, if the municipality lacks available funds, the Governor-General—upon recommendation from the Secretary of Agriculture and Natural Resources—may authorize payment for lots designated for schools, public markets, cemeteries, or municipal government buildings from Insular funds.
- If payment is made from Insular funds, the municipality is fully relieved from any payment obligations for those lots.
Effectivity of the Amending Act
- The amendment takes effect immediately upon approval.
- The Act modifies Section 21 of Act No. 1120, as previously amended by Act No. 2509, to incorporate these provisions regarding the disposition of certain tracts of Friar Lands.