2012 R - 10 - AUTHORIZING THE CLOSURE OF THE ACCOUNT OF THE OLONGAPO CITY GOVERNMENT AND THE UNFPA WITH THE DBP, SBFZ BRANCH

EXCERPTS FROM THE MINUTES OF THE REGULAR SESSION OF THE SANGGUNIANG PANLUNGSOD OF OLONGAPO, HELD ON FEBRUARY 01, 2012 AT THE CITY HALL.

PRESENT:

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

Hon. Eyrma Yvette Marzan-Estrella - - City Councilor

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 Baranggay

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

ABSENT:

Hon. Rodel S. Cerezo - - City Councilor

RESOLUTION NO. 10

(Series of 2012)

A RESOLUTION AUTHORIZING THE CLOSURE OF THE ACCOUNT OF THE OLONGAPO CITY GOVERNMENT AND THE UNITED NATIONS POPULATION FUND (UNFPA) WITH THE DEVELOPMENT BANK OF THE PHILIPPINES (DBP), SUBIC BAY FREEPORT ZONE BRANCH

WHEREAS, the Letter of Understanding (LOU) between the City of Olongapo and the United Nations Population Fund signed on April 14, 2005 records for the agreement of the implementing partner and UNFPA on the activities to be carried out, with responsible partner institutions, timeframes and planned inputs to include on modalities to request cash disbursement, supplies or services from UNFPA, and how to adhere to the following funding, accounting, reporting and auditing procedures;

WHEREAS, the City Government and the UNFPA deemed that the account should be closed and a copy of the final bank statement attached to the reports, since there is no mutual agreement at hand that the bank account can be used for the next programme cycle of assistance ;

WHEREAS, the closure of the Population Development Strategy Account no. 0575002188080 and the Reproductive Health account no. 0575002188081, of the City Government of Olongapo and the United Nations Population Fund with Development Bank of the Philippines, Subic Bay Freeport Zone Branch shall be made, since this will become a non-operational bank account of the said agency which requires immediate effect;

WHEREAS, the DBP shall issue a managers cheque for the remaining balance of the Project Funds payable to the United Nations Development Programme;

WHEREAS, subsequently the City Government of Olongapo and the United Nations Population Fund and their respective authorized representatives/signatories are hereby authorized to sign, seal and deliver such action;

NOW, THEREFORE, on motion of City Councilor Edna A. Elane, with the unanimous accord 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 closure of the account of the Olongapo City Government and the United Nations Population Fund (UNFPA) with the Development Bank of the Philippines (DBP), Subic Bay Freeport Zone Branch.

Let a copy of this Resolution be furnished the Development Bank of the Philippines, Subic Bay Freeport Zone Branch for their information and record.

APPROVED UNANIMOUSLY, February 01, 2012.