2008 R - 63 - RATIFYING THE CONTRACT OF LOAN WITH THE PRINCIPAL AMOUNT OF PHP143,800,000.00 ENTERED INTO BY THE OLONGAPO CITY GOVERNMENT WITH THE DBP

EXCERPTS FROM THE MINUTES OF THE REGULAR SESSION OF THE SANGGUNIANG PANLUNGSOD OF OLONGAPO, HELD ON MAY 7, 2008 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. 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:

None.

RESOLUTION NO. 63
(Series of 2008)

A RESOLUTION RATIFYING THE CONTRACT OF LOAN WITH THE PRINCIPAL AMOUNT OF ONE HUNDRED FORTY-THREE MILLION EIGHT HUNDRED THOUSAND PESOS (PHP143,800,000.00) ENTERED INTO BY THE OLONGAPO CITY GOVERNMENT WITH THE DEVELOPMENT BANK OF THE PHILIPPINES (DBP)

WHEREAS, the Olongapo City Government entered into a Contract of Loan with the Development Bank of the Philippines;

WHEREAS, the principal amount is One Hundred Forty-Three Million Eight Hundred Thousand Pesos;

WHEREAS, the said amount will be utilized for the immediate implementation of the solid waste containerization collection and transportation system to fully comply with R.A. 9003 and to undertake a complete Feasibility Study and Detailed Planning of the City’s enhanced Sanitary Landfill system to promote a cleaner and more sanitized environment in the City;

NOW, THEREFORE, on motion of Councilor Aquilino Y. Cortez, Jr., and co-sponsored by Councilors Gina G. Perez, John Carlos G. delos Reyes, Rodel S. Cerezo, Edwin J. Piano, Angelito W. Baloy, Anselmo A. Aquino, Elena C. Dabu, Carlito A. Baloy and Cheenee F. Hoya 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 Contract of Loan with the principal amount of One Hundred Forty-Three Million Eight Hundred Thousand Pesos (PhP143,800,000.00) entered into by the Olongapo City Government with the Development Bank of the Philippines (DBP).

APPROVED, May 7, 2008.

CYNTHIA G. CAJUDO
City Vice-Mayor & Presiding Officer


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

RODEL S. CEREZO SARAH LUGERNA LIPUMANO-GARCIA
City Councilor City Councilor
(Opposed)

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