Resolution No. 002-16

A RESOLUTION APPROVING THE ORDINANCE NO. 6-2015 OF THE SANGGUNIANG BAYAN OF BALIANGAO, “AN ORDINANCE APPROVING, CONFORMING AND RATIFYING ALL TERMS AND CONDITIONS OF THE NOTICE OF LOAN APPROVAL DATED NOVEMBER 25, 2015, LOAN AGREEMENT, ASSIGNMENT AND OTHER SUPPORTING DOCUMENTS PERTAINING TO THE TERMS/CREDIT FACILITIES ENTERED INTO BY AND BETWEEN THE MUNICIPAL GOVERNMENT OF BALIANGAO REPRESENTED BY HON. AGNE V. YAP, SR., MUNICIPAL MAYOR, AND THE LAND BANK OF THE PHILIPPINES REPRESENTED BY MR. VINICIUS S. HAMOY, ZAMBOANGA DEL NORTE LENDING CENTER HEAD, AND TO SECURE THE SAME WITH ASSESSMENT OF 20% DEVELOPMENT FUND/dINTERNAL REVENUE ALLOTMENT AND LOCAL REVENUES, SUBJECT TO ALL LAWS, RULES AND REGULATIONS. THE LOAN SHALL BE UTILIZED ON THE FOLLOWING PROJECTS, AS FOLLOWS:

ACQUISITION OF ONE (1) UNIT BRAND NEW FORD RANGER VEHICLE IN THE AMOUNT OF ONE MILLION NINE HUNDRED THOUSAND PESOS, (P1,900,000.00) ACTUAL WINNING BID/CONTRACT PRICE, WHICHEVER IS LOWER, INCLUSIVE OF BANK CHARGES AND FEES.”

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