2008 R - 08 - ADOPTING THE TWO-YEAR INVESTMENT PLAN OF THE PUBLIC UTILITIES DEPARTMENT

EXCERPTS FROM THE MINUTES OF THE REGULAR SESSION OF THE SANGGUNIANG PANLUNGSOD OF OLONGAPO, HELD ON JANUARY 30, 2008 AT THE CITY HALL.

PRESENT:

Hon. Gina Gulanes-Perez - - - - - - - - - - - - - - - -City Councilor & Temporary Presiding Officer
Hon. John Carlos G. Delos Reyes- - - - - - - - - - -City Councilor
Hon. Rodel S. Cerezo - - - - - - - - - - - - - - - - - - - “ “
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. Carlito A. Baloy- - - - - - - - - - - - - - - - - - - - President, Liga ng mga Barangay
Hon. Cheenee F. Hoya- - - - - - - - - - - - - - - - - - - SK Federation President


ABSENT:

Hon. Cynthia G. Cajudo - - - - - - - - - - - - - - - - - -City Vice-Mayor & Presiding Officer


RESOLUTION NO. 08
(Series of 2008)

A RESOLUTION ADOPTING THE TWO-YEAR INVESTMENT PLAN OF THE PUBLIC UTILITIES DEPARTMENT

WHEREAS, the City Government owns and operates the Public Utilities Department (PUD) which is in the business of providing the City with electric power;

WHEREAS, the PUD is experiencing business reverses, is mired in a huge debt and needs series of rehabilitations;

WHEREAS, the Olongapo City Government is considering private sector participation as a viable option for the PUD’s rehabilitation;

WHEREAS, the City Government has engaged in the services of the International Finance Corporation (IFC), a subsidiary of the World Bank to guide the City Government through the process by the preparation of a viable transaction to attract Private Sector Participation;

WHEREAS, the IFC will assist the city in transacting and clearing key policy and regulatory issues with the proper government regulatory bodies that would allow, among others, a private operator to efficiently carry out the concession for the rehabilitation and management of the power utility, including a strategy or the formulation of a long term solution for the payment of its debt with the National Power Corporation;

WHEREAS, it will take two years for IFC to complete its consultancy work and project study;

WHEREAS, in the interim, a short term rehabilitation and system improvement and loss reduction plan must be implemented to sustain the operations of the PUD;

NOW, THEREFORE, on motion of Councilor John Carlos G. delos Reyes, 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 adopt, as it hereby adopts the two-year Investment Plan of the Public Utilities Department.

APPROVED UNANIMOUSLY, January 30, 2008.


CYNTHIA G. CAJUDO
City Vice-Mayor & Presiding Officer
(Absent)


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


RODEL S. CEREZO SARAH LUGERNA LIPUMANO-GARCIA
City Councilor City Councilor


EDWIN J. PIANO ANGELITO W. BALOY
City Councilor City Councilor


AQUILINO Y. CORTEZ, JR ANSELMO A. AQUINO
City Councilor City Councilor


ELENA C. DABU *CARLITO A. BALOY
City Councilor President, Liga ng mga Barangay


*CHEENEE F. HOYA
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


*requested to be excused for an official business