RESOLUTION AUTHORIZING HON. JERWIN S. DIMAPILIS, MUNICIPAL MAYOR, TO NEGOTIATE AND TRANSACT WITH THE LAND BANK OF THE PHILIPPINES FOR THE AVAILMENT OF A LOAN FACILITY TO FINANCE THE MUNICIPALITY'S IDENTIFIED PRIORITY PROJECTS

WHEREAS, the Municipal Government of Roxas aims to accelerate local development and improve the delivery of basic services through the implementation of various priority infrastructure and developmental projects;

WHEREAS, the current fiscal resources of the Municipality require augmentation through external financing to ensure the timely completion of these vital projects which are essential for the socio-economic growth of the community;

WHEREAS, the Land Bank of the Philippines (LBP) offers credit facilities and loan programs specifically designed to assist Local Government Units (LGUs) in financing capital investment projects under favorable terms;

WHEREAS, the LANDBANK loan amounting to Three Hundred Forty Five Million Pesos (P345,000,000.00) will be allocated to the following proposed projects of the Municipal Government of Roxas:

1. Acquisition of a lot in Barangay Bagumbayan (Former Site of Roxas College) through expropriation Three Million Pesos (P300,000,000.00);

2. Procurement of a dedicated backhoe/payloader Twenty Five Million Pesos (P25,000,000.00);

3. Construction of an access road connecting the Roxas Commercial Complex to the coastal/by-pass road Twenty Million Pesos (P20,000,000.00);

NOW, THEREFORE, BE IT RESOLVED...

BE IT RESOLVED to grant as it hereby grants authority to Honorable Jerwin S. Dimapilis, Municipal Mayor to negotiate with LANDBANK of the Philippines Oriental Mindoro Lending Center for a loan with the maximum amount of Three Hundred Forty Five Million Pesos (P345,000,000.00).

RESOLVED FURTHER, to send copies of this resolution Hon. Jerwin S. Dimapilis, Municipal Mayor and other concerned offices for their information and necessary action.

RESOLVED FINALLY, to send a copy of this resolution LANDBANK of the Philippines Oriental Mindoro Lending Center for their information and guidance.

APPROVED