2007 R - 153 - AFFIRMING THE SHAREHOLDINGS OF OLONGAPO CITY AT SUBICWATER AND SEWERAGE CO., INC. WITHOUT PREJUDICE TO THE PENDING SUPREME COURT CASE

EXCERPTS FROM THE MINUTES OF THE REGULAR SESSION OF THE SANGGUNIANG PANLUNGSOD OF OLONGAPO, HELD ON OCTOBER 18, 2007 AT THE CITY HALL.

PRESENT:

Hon. Cynthia G. Cajudo - - - - - - - City Vice-Mayor & Presiding Officer
Hon. Gina Gulanes-Perez - - - - - - - - - - - - - - - - City Councilor
Hon. John Carlos G. Delos Reyes- - - - - - - - - - - “ “
Hon. Rodel S. Cerezo - - - - - - - - - - - - - - - - - - - “ “
Hon. Marey Beth D. Marzan- - - - - - - - - - - - - - - “ “
Hon. Sarah Lugerna Lipumano-Garcia - - - - - - - - “ “
Hon. Edwin J. Piano- - - - - - - - - - - - - - - - - - - - - “ “
Hon. Angelito W. Baloy - - - - - - - - - - - - - - - - - - “ “
Hon. Aquilino Y. Cortez, Jr.- - - - - - - - - - - - - - - - “ “
Hon. Anselmo A. Aquino- - - - - - - - - - - - - - - - - - “ “
Hon. Elena C. Dabu- - - - - - - - - - - - - - - - - - - - - - “ “
Hon. Robine Rose C. Buenafe- - - - - - - - - - - - - - - SK Federation President

ABSENT:

Hon. Carlito A. Baloy- - - - - - - - - - - - - President, Liga ng mga Barangay


RESOLUTION NO. 153
(Series of 2007)

A RESOLUTION AFFIRMING THE SHAREHOLDINGS OF OLONGAPO CITY AT SUBICWATER AND SEWERAGE CO., INC. WITHOUT PREJUDICE TO THE PENDING SUPREME COURT CASE PERTAINING TO SUBICWATER

WHEREAS, the Olongapo City Government and Subicwater, Inc. are touted as global partners in the delivery of clean, potable and quality water to residents of Olongapo City and Subic Bay Freeport;

WHEREAS, Subicwater and Sewerage Co., Inc. is the exclusive water distributor in Olongapo and Subic Bay Freeport;

WHEREAS, among others, the defunct Olongapo City Water District assigned to the Olongapo City Government its rights over a Joint Venture Agreement with Subicwater;

WHEREAS, the aforementioned Agreement recognized the considerations of the City Government of Olongapo thereby making it as shareholder and a creditor in Subicwater and Sewerage Co., Inc.;

WHEREAS, Olongapo City is therefore entitled to the dividends declared by Subicwater and Sewerage Co., Inc.

NOW, THEREFORE, on motion of Councilor Edwin J. Piano, with the unanimous accord of the Members of the Sangguniang Panlungsod present;

RESOLVED, AS IT IS HEREBY RESOLVED, by the Sangguniang Panlungsod in session assembled, to affirm, as it hereby affirms the shareholdings of Olongapo City Government at Subicwater and Sewerage Co., Inc. without prejudice to the pending Supreme Court case pertaining to Subicwater.

Let copies of this Resolution be furnished to the Chairman and President of Subicwater and Sewerage Co., Inc. Chairman and Administrator of Subic Bay Metropolitan Authority and Members of Subicwater Regulatory Board for their information and guidance.

APPROVED UNANIMOUSLY, October 18, 2007.


CYNTHIA G. CAJUDO
City Vice-Mayor & Presiding Officer


GINA GULANES - PEREZ JOHN CARLOS G. DELOS REYES
City Councilor City Councilor


RODEL S. CEREZO MAREY BETH D. MARZAN
City Councilor City Councilor


SARAH LUGERNA LIPUMANO-GARCIA EDWIN J. PIANO
City Councilor City Councilor


ANGELITO W. BALOY AQUILINO Y. CORTEZ, JR
City Councilor City Councilor


ANSELMO A. AQUINO ELENA C. DABU
City Councilor City Councilor


CARLITO A. BALOY ROBINE ROSE C. BUENAFE
President, Liga ng mga Barangay SK Federation President
(Absent)

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