Municipal Resolution No. 2010-17

Republic of the Philippines
Province of Bohol
Municipality of Corella

THE ELEVENTH SANGGUNIANG BAYAN

Municipal Resolution No. 2010- 17

A RESOLUTION AMENDING THE MUNICIPAL RESOLUTION NO. 2008-29; ENTITLED A RESOLUTION AUTHORIZING THE MUNICIPAL MAYOR, HON. VITO B. RAPAL TO ENTER INTO LOAN WITH LAND BANK OF THE PHILIPPINES, TAGBILARAN BRANCH IN THE AMOUNT OF TWENTY SEVEN MILLION (P27,000,000.00)PESOS TO FINANCE THE CORELLA WATERWORKS INTERCONNECTION & OTHER PRIORITY PROJECTS, TO READ IN FULL AS FOLLOWS: A RESOLUTION AUTHORIZING THE MUNICIPAL MAYOR HON. VITO B. RAPAL TO ENTER INTO LOAN WITH ANY REPUTABLE BANKING INSTITUTION IN THE AMOUNT OF TWENTY SEVEN MILLION (P27,000,000.00) PESOS FOR THE PURCHASE OF ONE (1) UNIT BRAND NEW ROAD GRADER, ONE (1) UNIT RECONDITIONED ROAD ROLLER AND FOR THE IMPROVEMENT/REHABILITATION OF THE CORELLA WATERWORKS SYSTEM

WHEREAS, the 11th Sangguniang Bayan of Corella, Bohol passed and approved Municipal Resolution No. 2008-29, which in substance and in effect, authorizes the Municipal Mayor, Honorable Vito B. Rapal to enter into loan with the Land Bank of the Philippines, for the purchase of one (1) unit brand new road grader, one (1) unit reconditioned road roller, and for the improvement/rehabilitation of the Corella Waterworks System;

WHEREAS, the Land Bank of the Philippines, Tagbilaran Branch for almost two years now failed to process completely and grant the said loan due to its voluminous and stringent requirements resulting to the unnecessary delay in the implementation of the aforementioned development projects for Corella ;

WHEREAS, it was learned recently, that other reputable banking institutions are offering the Municipality of Corella the same termed loan for the said development of the aforementioned development projects for Corella;

WHEREAS, the above-mentioned developments are among the priority projects as stated in Annual Investment Plan for CY 2010 as well as in the Executive-Legislative Agenda (ELA) for the term 2008-2011;

WHEREAS, it has always been the policy of this administration to fast track development projects for the benefits of our constituents;

NOW THEREFORE, Be it resolved as it is hereby resolved by the Eleventh Sangguniang Bayan of Corella, Bohol in session duly assembled-

TO AMEND MUNICIPAL RESOLUTION NO. 2008-29, ENTITLED: “A RESOLUTION AUTHORIZING THE MUNICIPAL MAYOR HON. VITO B. RAPAL TO ENTER INTO LOAN WITH LAND BANK OF THE PHILIPPINES, TAGBILARAN BRANCH IN THE AMOUNT OF TWENTY SEVEN MILLION (P27,000,000.00) PESOS TO FINANCE THE CORELLA WATERWORKS INTERCONNECTION & OTHER PRIORITY PROJECTS, TO READ IN FULL AS FOLLOW: A RESOLUTION AUTHORIZING THE MUNICIPAL MAYOR HON. VITO B. RAPAL TO ENTER INTO LOAN WITH ANY REPUTABLE BANKING INSTITUTION IN THE AMOUNT OF TWENTY SEVEN MILLION (P 27,000,000.00) FOR THE PURCHASE OF ONE (1) UNIT BRAND NEW ROAD GRADER, ONE (1) UNIT RECONDITIONED ROAD ROLLER AND FOR THE IMPROVEMENT/REHABILITATION OF THE CORELLA WATERWORKS SYSTEM.

RESOLVED FURTHER, to send copies of this resolution to all concern for their information, guidance, appropriate action for the record purposes.

Approved: March 15, 2010

I hereby certify to the correctness of the above quoted resolution.

RUTH C. BAUGBOG

Official Recorder

Attested:

ATTY. EPIFANIO G. BOLANDO

Vice Mayor / Presiding Officer

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