2013 R - 17 - REITERATING ALLOCATION OF PAYMENT FOR POWER SECTOR ASSETS AND LIABILITIES MANAGEMENT CORPORATION (PSALM) AND FOR THE PUBLIC UTILITIES DEPARTMENT (PUD) PERSONNEL FROM THE ASSET PURCHASE AGREEMENT (APA) PROCEEDS

EXCERPTS FROM THE MINUTES OF THE REGULAR SESSION OF THE

SANGGUNIANG PANLUNGSOD OF OLONGAPO, HELD ON

FEBRUARY 27, 2013 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. de los 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. Dolly Mae M. Ramos-- SK City Federation President

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

ABSENT:

 None.

RESOLUTION NO.  17

(Series of 2013)

A RESOLUTION REITERATING ALLOCATION OF PAYMENT FOR POWER SECTOR  ASSETS  AND  LIABILITIES  MANAGEMENT  CORPORATION

(PSALM)  AND FOR  THE  PUBLIC  UTILITIES  DEPARTMENT (PUD)

PERSONNEL FROM  THE ASSET PURCHASE AGREEMENT (APA) PROCEEDS

WHEREAS, APA was entered into by and between the City Government and CEPALCO by virtue of City Resolution No. 60, Series of 2010;

WHEREAS, APA and City Resolution No. 60,  Series of 2010 state that portion of the proceeds shall be for payment of National Power Corporation (NAPOCOR) /PSALM and for the compensation of PUD employees subject to official Civil Service Commission approved computation and compensation package;

NOW, THEREFORE, 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 reiterate, as it  hereby reiterates, allocation of payment for the National Power Corporation (NAPOCOR)/Power Sector Assets and Liabilities Management Corporation (PSALM) and for the Public Utilities Department (PUD) personnel from  the Asset Purchase Agreement (APA) proceeds, in all manners consistent with law.

APPROVED UNANIMOUSLY, February 27, 2013.