AN ORDINANCE AUTHORIZING HIS HONOR, CITY MAYOR, JOSE L. ATIENZA, JR., TO ACQUIRE THE REAL PROPERTIES OWNED BY THE AGUS DEVELOPMENT, ET. AL AND NINE (9) OTHERS WITH A TOTAL LAND AREA 42,934.48 SQUARE METERS, FOR AWARDING TO ACTUAL TENANTS AND OCCUPANTS OF BARANGAY 521, 524, 525, 527, 528 & 529, ZONE 52; 536, 538, 539 & 541, ZONE 53; 546, 549 & 552, ZONE 54; 561, 562, 563 & 564, ZONE 55; AND 571, 572, 573, 574 & 576, ZONE 56, LOCATED IN SAMPALOC, BALIC-BALIC, DISTRICT IV, MANILA, ON INSTALLMENT BASIS FOR A PERIOD NOT EXCEEDING TWENTY FIVE (25) YEARS, APPROPRIATING THE AMOUNT OF FIFTEEN MILLION PESOS (PHP 15,000,000.00) OR SO MUCH THEREOF AS MAY BE NECESSARY, SUBJECT TO THE AVAILABILITY OF FUNDS AS CERTIFIED BY THE CITY TREASURER'S OFFICE: PROVIDED, THAT THE AMOUNT EQUIVALENT TO FIFTEEN (15% ) PERCENT OF THE ZONAL VALUATION OF THE PROPERTY SHALL BE SET ASIDE FROM THE FIFTY MILLION (PHP 50,000,000.00) LUMP SUM APPROPRIATION PROVIDED UNDER THE EXECUTIVE BUDGET FOR THE ACQUISITION OF LANDED ESTATES (LAND-FOR-THE-LANDLESS PROGRAM OF THE CITY OF MANILA).
