Resolution No. 431-18

A RESOLUTION APPROVING THE ORDINANCE NO. 03 SERIES 2018 OF THE SANGGUNIANG BAYAN OF CONCEPCION, ENTITLED, “AN ORDINANCE APPROVING, CONFIRMING, AND RATIFYING ALL THE TERMS AND CONDITIONS OF LOAN INDICATED IN THE NOTICE OF LOAN APPROVAL DATED JANUARY 17,2018, LOAN AGREEMENT, ASSIGNMENT AND OTHER SUPPORTING DOCUMENTS PERTAINING TO THE TERM LOAN CREDIT FACILITY ENTERED INTO BY AND BETWEEN THE MUNICIPAL GOVERNMENT OF CONCEPCION REPRESENTED BY THE MUNICIPAL MAYOR JUANIDY M. VINA AND THE LAND BANK OF THE PHILIPPINES REPRESENTED BY ITS HEAD, ZAMBOANGA DEL NORTE LENDING CENTER, VINICIUS S. HAMOY IN THE TOTAL AMOUNT OF TEN MILLION PESOS ONLY (P10,000,000.00) AS COMPONENT OF INFRASTRUCTURE PROJECTS OF LGU CONCEPCION AND TO SECURE THE SAME WITH ASSIGNMENT OF 20% INTERNAL REVENUE ALLOTMENT AND OTHER LOCAL REVENUES, SUBJECT TO ALL LAWS, RULES AND REGULATIONS. THE LOAN SHALL BE UTILIZED TO FINANCE THE EXPANSION OF MOTOR POOL THROUGH ACQUISITION OF ONE (1) UNIT BRAND NEW ROAD ROLLER AND ONE (1) UNIT BRAND NEW DUMP TRUCK FOR THE IMPLEMENTATION OF THE DIFFERENT INFRASTRUCTURE PROJECTS OF THE MUNICIPALITY”

Share This Post: