2008 R - 106 - RATIFYING THE AMENDMENT TO TERM LOAN AGREEMENT BETWEEN THE DBP AND OLONGAPO CITY DATED JULY 9, 2008

EXCERPTS FROM THE MINUTES OF THE SPECIAL SESSION OF THE SANGGUNIANG PANLUNGSOD OF OLONGAPO, HELD ON JULY 10, 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. 106
(Series of 2008)

A RESOLUTION RATIFYING THE AMENDMENT TO TERM LOAN AGREEMENT BETWEEN THE DEVELOPMENT BANK OF THE PHILIPPINES (DBP) AND OLONGAPO CITY DATED JULY 9, 2008 IDENTIFIED AS DOC. 199, PAGE 40 BOOK NO. V, SERIES OF 2008 WITH REGARD TO THE WASTE CONTAINERIZATION PROJECT OF OLONGAPO CITY

WHEREAS, submitted before the Body for deliberation is a request for the passing of a resolution for the ratification of the Amendments to Term Loan Agreement dated July 09, 2008 and Related Documents Between the City Government of Olongapo and the Development Bank of the Philippines;

WHEREAS, the body deems it necessary to ratify the amendments stated thereto for the swift implementation of the said agreement;

NOW, THEREFORE, on motion of Councilor Edwin J. Piano, 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 amendment to Term Loan Agreement between the Development Bank of the Philippines (DBP) and Olongapo City dated July 9, 2008 identified as Doc. 199, Page 40, Book No. V, Series of 2008 with regard to the Waste Containerization Project of Olongapo City.

RESOLVED FURTHER, AS IT IS HEREBY FURTHER RESOLVED, that this Resolution shall remain valid and effective until the Loan with DBP has been fully settled and paid.

Let copies of this Resolution be furnished the Office of the City Mayor, the City Treasure’s Office, the Auditor’s Office and the concerned Development Council, and DBP.

APPROVED, July 09, 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