PROPOSED BASIS OF AGREEMENT
CONCERNING PHILIPPINE CHRISTIAN COLLEGE
August 10-11, 1959
It is the understanding of the Executive Committee that the Board of Trustees of Union Theological Seminary will formally approve the agreement by trustee action.
- That the UNITED CHURCH OF CHRIST IN THE PHILIPPINES agrees that the title on the land and buildings now occupied by the PHILIPPINE CHRISTIAN COLLEGE at Tennessee, Indiana, and Wright Streets, together with the playground across Wright Street be transferred and conveyed to the said Church which will in turn transfer and convey said title to the Philippine Christian College, with the understanding that if and when the said school will no longer use and occupy the said properties for the purpose for which it was originally given, the same will revert back to the said UNITED CHURCH OF CHRIST IN THE PHILIPPINES;
- That the UNION THEOLOGICAL SEMINARY with the approval of the donors will transfer to the PHILIPPINE CHRISTIAN COLLEGES a portion of its lot at the corner of Taft Avenue and Herran Streets, having an area of 2,000 square meters so that a college building may be constructed thereon, provided that if and when the said Philippine Christian College will cease to use and occupy said portion for the purposes for which it was originally given, the same will revert back to the Union Theological Seminary which will then determine, with the original donors, how the same is to be used for interdenominational purposes;
- that the remainder of the property of UNION THEOLOGICAL SEMINARY will remain under the jurisdiction and disposition of the Board of Trustees of UNION THEOLOGICAL SEMINARY as heretofore;
- That the title of the new college building would transferred to the PHILIPPINE CHRISTIAN COLLEGES by the METHODIST CHURCH with the same reversion clause to the said METHODIST CHURCH, with the understanding that the said Church would work out with the Board of Trustees of the Union Theological Seminary and the original donors (WDM-WDCS) its further use for interdenominational purposes;
That if and when the METHODIST CHURCH is able to purchase the lot at the corner of Herran and Pennsylvania Streets adjoining the Seminary College, the title to the same will be transferred and conveyed to Philippine Christian College with the same reversion clause in favor of the METHODIST CHURCH together with any building which may be constructed thereon.
Ref: Executive Committee, Action #59-138