2006 Res No.55

EXCERPTS FROM THE MINUTES OF THE REGULAR SESSION OF THE SANGGUNIANG PANLUNGSOD OF OLONGAPO, HELD ON APRIL 5, 2006 AT THE CITY HALL.

PRESENT:

Hon. Rolen C. Paulino - - - - - - - - - - - - - - City Vice Mayor & Presiding Officer
Hon. Noel Y. Atienza- - - - - - - - - - - - - - - City Councilor
Hon. Cynthia G. Cajudo - - - - - - - - - - - - - “ “
Hon. John Carlos G. delos Reyes - - - - - - “ “
Hon. Bella P. Asuncion - - - - - - - - - - - - - - “ “
Hon. Marey Beth D. Marzan- - - - - - - - - - - “ “
Hon. Brian Patrick H. Gordon - - - - - - - - - - “ “
Hon. Anselmo A. Aquino - - - - - - - - - - - - - “ “
Hon. Edwin J. Piano- - - - - - - - - - - - - - - - - “ “
Hon. Gina G. Perez - - - - - - - - - - - - - - - - - “ “
Hon. Napoleon F. Capistrano- - - - - - - - - - - President, Liga ng mga Barangay
Hon. Robine Rose C. Buenafe - - - - - - - - - - SK Federation President

ABSENT:

Hon. Angelina B. Andrada - - - - - - - - - - - - City Councilor (On Official Business)

RESOLUTION NO. 55
(Series of 2006)

A RESOLUTION RATIFYING THE TERM LOAN AGREEMENT BETWEEN
THE CITY OF OLONGAPO AND THE DEVELOPMENT BANK OF THE
DEVELOPMENT BANK OF THE PHILIPPINES (DBP) REGARDING LOAN
OF ONE HUNDRED FOUR MILLION FIVE HUNDRED THOUSAND PESOS (PHP104,500,000.00) FOR THE CONSTRUCTION, REHABILITATION AND REPAIR OF AS WELL AS PROCUREMENT OF HOSPITAL EQUIPMENTS
FOR THE JAMES L. GORDON MEMORIAL HOSPITAL (JLGMH)

WHEREAS, by virtue of Resolution No. 36, Series of 2005, an authority was conferred to the City Mayor, Hon. James Gordon, Jr. to enter into a Contract of Loan with the Development Bank of the Philippines that will finance the upgrading of equipment and facilities of James L. Gordon Memorial Hospital;

WHEREAS, the said Resolution responds to the need for an excellent hospital service through the upgrading, renovation, improvement and construction of facilities as well as the purchase of new equipment for the said medical institution and as such, its Term Loan Agreement forged by and between the above parties is deemed ratified to legalize the said contract;

NOW, THEREFORE, on motion of Councilor Cynthia G. Cajudo with the majority decision of the Members of the Sangguniang Panlungsod present,

RESOLVED, AS IT IS HEREBY RESOLVED, by the Sangguniang Panlungsod in session assembled, to ratify, as it hereby ratifies the Term Loan Agreement entered into by and between the City Government of Olongapo and the Development Bank of the Philippines (DBP) regarding loan of One Hundred Four Million Five Hundred Thousand Pesos (PhP104,500,000.00) to partly finance the construction of James L. Gordon Memorial Hospital Medical Arts Building, repair/rehabilitation of hospital’s special areas, acquisition of CT-Scan Machine and other hospital equipment, computerization and installation of new PABX system as provided under Section 2.03 of the mentioned Agreement;



Con’t. of Resolution No. 55, Series of 2006.

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RESOLVED FURTHER, AS IT IS HEREBY FURTHER RESOLVED, that a copy of the signed Term Loan Agreement be made as an integral part of this Resolution.

Let a copy of this Resolution be furnished the Development Bank of the Philippines for their information and record.

APPROVED, April 5, 2006.


ROLEN C. PAULINO
City Vice-Mayor and Presiding Officer

NOEY Y. ATIENZA CYNTHIA G. CAJUDO
City Councilor City Councilor
(Objected)

JOHN CARLOS G. DELOS REYES BELLA P. ASUNCION
City Councilor City Councilor

MAREY BETH D. MARZAN ANGELINA B. ANDRADA
City Councilor City Councilor (On Official Business)

BRIAN PATRICK H. GORDON ANSELMO A. AQUINO
City Councilor City Councilor

EDWIN J. PIANO GINA G. PEREZ
City Councilor City Councilor

NAPOLEON F. CAPISTRANO ROBINE ROSE C. BUENAFE
President, Liga ng mga Barangay SK Federation President

ATTEST:

ELFLIDA S. SALMON
Council Secretary

APPROVED BY HIS HONOR, THE CITY MAYOR ON______________________.



JAMES GORDON, JR.
City Mayor
ATTEST:

DELFIN A. JUICO, JR.
Secretary to the City Mayor