2009 R - 49 - RATIFYING THE EXTENSION OF THE LOAN AGREEMENT BETWEEN THE DEVELOPMENT BANK OF THE PHILIPPINES AND THE CITY GOVERNMENT OF OLONGAPO

EXCERPTS FROM THE MINUTES OF THE REGULAR SESSION OF THE SANGGUNIANG PANLUNGSOD OF OLONGAPO, HELD ON APRIL 8, 2009 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. Jonathan G. Manalo- - - - - - “ “

ABSENT:

Hon. Carlito A. Baloy - - - - - - President, Liga ng mga Barangay
(On Official Business)
Hon. Cheenee F. Hoya- - - - SK Federation President


RESOLUTION NO. 49
(Series of 2009)

A RESOLUTION RATIFYING THE EXTENSION OF THE LOAN AGREEMENT BETWEEN THE DEVELOPMENT BANK OF THE PHILIPPINES AND THE CITY GOVERNMENT OF OLONGAPO CONCERNING THE TWENTY-TWO MILLION “ONE-ON-ONE” LOAN FROM 06 APRIL 2009 TO 01 APRIL 2010.

WHEREAS, the Olongapo City Government has availed of the Twenty-Two Million “One-on-One”loan with the Development Bank of the Philippines which expired last 05 April 2009;

WHEREAS, the City has already negotiated with DBP for the extension of the said loan from 06 April 2009 to 01 April 2010;

NOW, THEREFORE, on motion of Councilor Jonathan G. Manalo, with the unanimous accord of the Members of the Sangguniang Panlungsod present;

RESOLVED, AS IT HEREBY RESOLVED, by the Sangguniang Panlungsod in session assembled to ratify, as it hereby ratifies the extension of the loan agreement between the Development Bank of the Philippines and the City Government of Olongapo concerning the Twenty-Two Million “One-on-One” loan from 06 April 2009 to 01 April 2010.

APPROVED UNANIMOUSLY, April 8, 2009.


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


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
(On Official Business) (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