Resolution No. 009-16

A RESOLUTION APPROVING THE MUNICIPAL ORDINANCE NO. 11-S-2015 OF THE SANGGUNIANG BAYAN OF BONIFACIO, “AN ORDINANCE APPROVING, CONFIRMING AND RATIFYING ALL THE TERMS AND CONDITIONS OF THE LOAN AGREEMENT, ASSIGNMENT, AND OTHER SUPPORTING DOCUMENTS PERTAINING TO THE TERM LOAN 4, 5 & 6/CREDIT FACILITIES ENTERED INTO BY AND BETWEEN THE MUNICIPAL GOVERNMENT OF BONIFACIO REPRESENTED BY MUNICIPAL MAYOR HON. EVELYN C. DUMAN JUG AND THE LAND BANK OF THE PHILIPPINES REPRESENTED BY ITS ZAMBOANGA DEL NORTE LENDING CENTER HEAD VINICIUS S. HAMOY IN THE TOTAL AMOUNT OF FORTY MILLION PESOS ONLY (PHP40,000 MILLION) AS COMPONENT OF THE INFRASTRUCTURE PROJECTS OF BONIFACIO AND TO SECURE THE SAME WITH ASSIGNMENT OF 20% INTERNAL REVENUE ALLOTMENT AND LOCAL REVENUES, SUBJECT TO ALL LAWS, RULES AND REGULATIONS. THE LOAN SHALL BE UTILIZED ON THE FOLLOWING PROJECTS, AS FOLLOWS:

1. CONSTRUCTION OF 3-STOREY MULTI-PURPOSE BUILDING IN THE AMOUNT OF P27.00 MILLION PESOS OR ACTUAL WINNING BID/CONTRACT PRICE, WHICHEVER IS LOWER, INCLUSIVE OF BANK CHARGES AND FEES;

2. CONSTRUCTION OF 2-STOREY LEGISLATIVE BUILDING IN THE AMOUNT OF P9.50 MILLION PESOS OR ACTUAL WINNING BID/CONTRACT PRICE, WHICHEVER IS LOWER, INCLUSIVE OF BANK CHARGES AND FEES; AND

3. ACQUISITION OF VARIOUS OFFICE FURNITURE AND EQUIPMENT IN THE AMOUNT P3.50 MILLION PESOS OR ACTUAL WINNING BID/CONTRACT PRICE, WHICHEVER IS LOWER, INCLUSIVE OF BANK CHARGE AND FEES;

Share This Post: