[ PRESIDENTIAL DECREE NO. 1209, October 10, 1977 ]
CREATING AN AGRICULTURAL AND RURAL DEVELOPMENT SCHOLARSHIP FUND AND FOR OTHER PURPOSES.
WHEREAS, one of the program thrusts of the New Society is to embark on a nationwide agricultural and rural development;
WHEREAS, to enhance achievement of these developmental goals, there is a need to train deserving but needy students particularly from the least developed regions of the country, who will become implementors thereof;
WHEREAS, in order to achieve the desired training of qualified students, there is a necessity of creating an agricultural and rural development scholarship fund to be administtered by the U.P. at Los Baños which will offer scholarship in agricultural research, forestry and allied sciences;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby order and decree:
SECTION 1. There is hereby established at the University of the Philippines at Los Baños an "Agricultural and Rural Development Scholarship Fund" to support a selected number of qualified and deserving students from the rural and farming sector of the country.
SEC. 2. The sum of Five Million Pesos is hereby appropriated out of any funds in the National Treasury annually for a period of ten years beginning Fiscal Year 1978 to constitute the Agricultural and Rural Development Scholarship Fund at the U.P. at Los Baños. The fund shall be a Special Trust Fund to be deposited or invested and the earnings thereof, but not the capital, to be utilized exclusively for the purpose of this Decree.
SEC. 3. This Decree shall take effect immediately.
Done in the City of Manila, this 10th day of October, in the year of Our Lord, nineteen hundred and seventy-seven.
(Sgd.) FERDINAND E. MARCOS
President of the Philippines
By the President: (Sgd.) JACOBO C. CLAVE Presidential Executive Assistant