2011 R - 01 - APPROVING THE 2011 ANNUAL INVESTMENT PLAN OF THE CITY OF OLONGAPO, AS APPROVED AND SUBMITTED BY THE LOCAL DEVELOPMENT COUNCIL.

EXCERPTS FROM THE MINUTES OF THE REGULAR SESSION OF THE SANGGUNIANG PANLUNGSOD OF OLONGAPO, HELD ON JANUARY 05, 2011 AT THE CITY HALL.

PRESENT:

Hon. Rolen C. Paulino---City Vice-Mayor & Presiding Officer

Hon. Rodel S. Cerezo-----City Councilor

Hon. Eyrma Yvette Marzan-Estrella - “ “

Hon. Aquilino Y. Cortez, Jr---- “ “

Hon. James G. Delos Reyes --- “ “

Hon. Gina Gulanes-Perez --- “ “

Hon. Elena C. Dabu--- “ “

Hon. Eduardo J. Piano-- “ “

Hon. Edna A. Elane---- “ “

Hon. Noel Y. Atienza--- “ “

Hon. Sarah Lugerna Lipumano-Garcia- “ “

Hon. Carlito A. Baloy --President, Liga ng mga Barangay

Hon. Dolly Mae M. Ramos---SK Federation President

ABSENT:

None.

RESOLUTION NO.01

(Series of 2011)

A RESOLUTION APPROVING THE 2011 ANNUAL INVESTMENT PLAN OF THE CITY OF OLONGAPO, AS APPROVED AND SUBMITTED BY THE LOCAL DEVELOPMENT COUNCIL

WHEREAS, the Local Development Council is mandated to: formulate long-term, medium-term, and annual socioeconomic development plans and policies; formulate the medium-term and annual public investment programs; appraise and prioritize socioeconomic development programs and projects; and formulate local investments incentives to promote the inflow and direction of private investment capital as provided by Section 109 of the Local Government Code of the Philippines;

WHEREAS, the members of the Local Development Council of the City of Olongapo had convened and formulated the 2011 Annual Investment Plan on December 8, 2010, held at the FMA Hall, Olongapo City Hall Complex;

WHEREAS, the formulation of the 2011 AIP is a good governance practice of transparency and an optimum utilization of scarce public resources;

NOW, THEREFORE, on motion of City Councilor Eyrma Yvette Marzan-Estrella, with majority decision of the Members of the Sangguniang Panlungsod present;

RESOLVED, AS IT HEREBY RESOLVED, by the Sangguniang Panlungsod in session assembled, to approve as it hereby approves the 2011 Annual Investment Plan of the City of Olongapo, as approved and submitted by the Local Development Council.

APPROVED, January 05, 2011.