2008 R - 181 - AUTHORIZING MAYOR JAMES GORDON, JR. TO ENTER INTO A CONTRACT OF LOAN WITH THE DBP TO FINANCE THE PURCHASE OF A DREDGING MACHINE

EXCERPTS FROM THE MINUTES OF THE REGULAR SESSION OF THE SANGGUNIANG PANLUNGSOD OF OLONGAPO, HELD ON NOVEMBER 12, 2008 AT THE CITY HALL.

PRESENT:

Hon. Cynthia G. Cajudo - - - - City Vice-Mayor & Presiding Officer
Hon. Rodel S. Cerezo - - - - - - - City Councilor
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. Jonathan G. Manalo- - - - - - “ “
Hon. Carlito A. Baloy - - - - - - President, Liga ng mga Barangay
Hon. Cheenee F. Hoya- - - - -SK Federation President

ABSENT:

Hon. Gina Gulanes-Perez - - - - - - City Councilor
Hon. John Carlos G. Delos Reyes- - - - “ “

RESOLUTION NO. 181
(Series of 2008)

A RESOLUTION AUTHORIZING THE CITY MAYOR JAMES GORDON, JR. TO ENTER INTO A CONTRACT OF LOAN WITH THE DEVELOPMENT BANK OF THE PHILIPPINES (DBP) TO FINANCE THE PURCHASE OF A DREDGING MACHINE AND ITS ACCESSORIES IN THE AMOUNT OF NINETY MILLION PESOS (PhP90,000,000.00)

WHEREAS, only a long-term and holistic solution will arrest the city’s flood problem to ensure public safety;

WHEREAS, a responsive solution requires purchasing a dredging machine and its complete appurtenances or accessories for its effective operation;

WHEREAS, it is necessary to secure a loan from the DBP to finance its purchase;

WHEREAS, the DBP has expressed willingness to grant a loan to cover the purchase of the dredging machine plus accessory parts totaling (PhP90,000,000.00);

WHEREAS, the loan-grant from the Development Bank of the Philippines would increase said bank’s financing and decrease outright cash-financing from the government;

NOW, THEREFORE, on motion of Councilors Rodel S. Cerezo, Edwin J. Piano, Angelito W. Baloy, Aquilino Y. Cortez, Jr., Anselmo A. Aquino, Elena C. Dabu, Jonathan G. Manalo, 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 authorize, as it hereby authorizes The City Mayor James Gordon, Jr. To Enter Into A Contract Of Loan With The Development Bank Of The Philippines (DBP) To Finance The Purchase Of A Dredging Machine And Its Accessories In The Amount Of Ninety Million Pesos (PhP90,000,000.00).

APPROVED, November 12, 2008.


CYNTHIA G. CAJUDO
City Vice-Mayor & Presiding Officer


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

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 JONATHAN G. MANALO
City Councilor City Councilor

CARLITO A. BALOY CHEENEE F. HOYA
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