Resolution No. 147-2022
A RESOLUTION APPROVING THE MUNICIPAL ORDINANCE NO. 229-2021 OF THE SANGGUNIANG BAYAN OF JIMENEZ, “AN ORDINANCE APPROVING, CONFIRMING AND RATIFYING ALL THE TERMS AND CONDITIONS OF THE LOAN INDICATED IN THE NOTICE OF LOAN APPROVAL DATED 06 SEPTEMBER 2021, LOAN AGREEMENT, ASSIGNMENT, AND OTHER SUPPORTING DOCUMENTS PERTAINING TO THE TERM LOAN FACILITY ENTERED INTO BY AND IN BETWEEN THE MUNICIPAL GOVERNMENT OF JIMENEZ REPRESENTED BY THE MUNICIPAL MAYOR ROSARIO K. BALAIS, AND THE LAND BANK OF THE PHILIPPINES REPRESENTED BY ITS ZAMBOANGA DEL NORTE LENDING CENTER HEAD, ZENAIDA K. VALENCIA, IN THE TOTAL AMOUNT OF TWENTY TWO MILLION PESOS ONLY (P22 MILLION ) AS COMPONENT OF THE PROJECTS OF THE LGU AND TO SECURE THE SAME WITH ASSIGNMENT OF 20% NATIONAL TAX ALLOTMENT ( NT A) AND OTHER LOCAL REVENUES, SUBJECT TO ALL LAWS, RULES AND REGULATIONS. THE LOAN SHALL BE UTILIZED TO FINANCE ACQUISITION/PURCHASE OF FOUR (4) BRAND NEW HEAVY EQUIPMENT PARTICULARLY ONE (1) COMPACT EXCAVATOR WITH STEEL TRACKS, ONE (1) BACKHOE LOADER, AND TWO (2) DUMP TRUCKS AMOUNTING Tel TWENTY TWO MILLION PESOS (P22 MILLION)”