Section 9. Until such time as the Academy shall be financially self-sufficient, its operations shall be financed through the contributions of the founding institutions, parties to the memorandum agreement date May 11, 1973; A Development Academy of the Philippines Endowment Fund shall be created for the purpose of attaining self-support capability for the Academy, on the basis of contributions, investments, and other income accruing to the Academy and its operations, and with the view of terminating the need for annual contributions from the parties to the said memorandum agreement. The endowment fund shall be administered as a trust with the Board of Trustees of the Academy as trustee thereof. THE PRINCIPAL OF THE SAID ENDOWMENT FUND SHALL NOT BE SUBJECT TO IMPAIRMENT AND ONLY THE EARNINGS THEREOF SHALL BE AVAILABLE FOR EXPENDITURES PROVIDED, THAT THE ACADEMY SHALL BE AUTHORIZED TO WITHDRAW FROM THE SAID ENDOWMENT FUND FROM TIME TO TIME AMOUNTS NOT EXCEEDING THREE MILLION PESOS (P3,000,000.00) AND PROVIDED, FURTHER, THAT THE TOTAL OF SUCH AMOUNTS SHALL NOT EXCEED SIX MILLION PESOS (P6,000,000.00) AT ANY ONE TIME AND PROVIDED FINALLY THAT EACH SUCH AMOUNT WITHDRAWN SHALL BE FULLY PAID BACK INTO THE ENDOWMENT FUND OVER A PERIOD NOT EXCEEDING THREE YEARS FROM DATE OF WITHDRAWAL.

For this purpose, the founding institutions are hereby authorized to make contributions in the form of investments to the endowment fund, at the rate of Three million pesos (P3,000,000.00) each in June 1973 and Four and one-half million pesos (P4,500,000.00) in June 1975, provisions of their respective charters to the contrary notwithstanding.

The LAND BANK OF THE PHILIPPINES is hereby included as one of the developmental instrumentalities entitled to participate in the governance and policy direction of the Development Academy of the Philippines and shall support its programs by making financial and other contributions to its operations in the same amounts and under the same conditions as the original founding institutions, effective fiscal year 1977.