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Republika ng Pilipinas

Lalawigan ng Sultan Kudarat


TANGGAPAN NG SANGGUNIANG PANLALAWIGAN
ISO 9001:2008 Certified Sangguninan
Isulan, Sultan Kudarat

EXCERPTS FROM THE MINUTES OF THE REGULAR SESSION OF


THE FOURTEENTH SANGGUNIANG PANLALAWIGAN, HELD
IN ITS SESSION HALL, CAPITOL BUILDING,
ISULAN, SULTAN KUDARAT, ON JUNE 13, 2017
AT 9:00 A.M.

Present:
Hon. Eduardo M. Duque ------------------ Member
Acting Presiding Officer

1st District
Hon. Jose Remos P. Segura ------------------ Member
Hon. Joseph Leo E. Recinto ------------------ Member
Hon. Cyrus E. Torrea ------------------ Member
Hon. Alfonso S. Demasuay ------------------ Member

2nd District
Hon. Joseph M. Ortiz -------------------------- Member
Hon. Linda L. Latog --- ---------------------- Member
Hon. Rene C. De Manuel, Sr. --------------------- Member
Hon. NeserNesthurRay H. Gumana - - - - - - - - - - - - - - - - - - - Member

Ex-Officio Members
Hon. Amil A. Pangansayan (PCL) ------ ------------ Member
Hon. Bevelyn K, Zapanta (IPMR) ------ ------------ Member

Absent:
Hon. Raden C. Sakaluran, Al Haj (O.T.) - - - - - - - - - - - Vice Governor
Hon. Cesar L. Fornan ------------------ Member
Hon. Expedito F. Faderan (LnB) ------------- Member

RESOLUTION NO. 2017- 111

A RESOLUTION CONFIRMING AND RATIFYING THE TERMS AND


CONDITIONS EMBODIED IN THE LOAN AGREEMENT ENTERED INTO BY AND
BETWEEN THE PROVINCIAL GOVERNMENT OF SULTAN KUDARAT DULY
REPRESENTED BY PROVINCIAL GOVERNOR HON. SULTAN PAX S.
MANGUDADATU, AL HAJ AND LAND BANK OF THE PHILIPPINES AND
AUTHORIZING THE LOCAL CHIEF EXECUTIVE TO SIGN ALL DOCUMENTS
PERTAINING TO THE LOAN AMOUNTING TO SEVEN HUNDRED FIFTY MILLION
PESOS (750,000,000.00)

WHEREAS, the Provincial Government of Sultan Kudarat has applied for Term Loans
amounting to SEVEN HUNDRED FIFTY MILLION PESOS (750,000,000.00) to fund the
several infrastructure and development projects, to wit:
1. Construction of New Provincial Hospital Building 400,000,000.00
2. Acquisition of Medical Equipment 200,000,000.00
3. Construction of Medical Staff Dormitory 10,000,000.00
4. Construction of Grandstand, Rubberized Oval, Bleachers and Olympic Size
Swimming Pool 70,000,000.00
5. Acquisition of Provincial Gym Air-Conditioning Facilities 70,000,000.00

WHEREAS, as indicated in the Notice of Loan Approval (NOLA), the repayment for
applied Term Loans for its Principal payable in forty (40) equal quarterly amortization and aits
Interest payable in arrears to start at the end of the first quarter from date of initial loan release
subject however to the acceptance of the following terms and conditions offered under the term
loans packages;

WHEREAS, the august body interposes no objection or aversion as to standing terms


and conditions of the loan and the same constituted as valid, binding, executory and considered
beneficial in the delivery of priority programs and services for the greater welfare of the people
until such time the corresponding obligations shall have been fully satisfied;

WHEREFORE, upon motion of Hon. Joseph m. Ortiz, duly seconded by Hon. Joseph
Leo E. Recinto, it was-

RESOLVED AS IT IS HEREBY RESOLVED to confirm and ratify the terms and


conditions embodied in the Loan Agreement entered into by and between the Provincial
Government of Sultan Kudarat as represented by Hon. Sultan Pax S. Mangudadatu, Al Haj and
the Head of South Cotabato Lending Center.

RESOLVED FURTHER, to authorize the Local Chief Executive, Hon. Sultan Pax S.
Mangudadatu, Al Haj to sign all documents pertaining to the loan amounting to SEVEN
HUNDRED FIFTY MILLION PESOS (750,000,000.00) in behalf of the Provincial
Government of Sultan Kudarat.

RESOLVED FURTHERMORE that copies of this ordinance be furnished the


Honorable Governor, the Provincial Accountant, the Provincial Treasurer, this province and the
Land Bank of the Philippines for their information, guidance and appropriate action.

UNANIMOUSLY APPROVED.
June 13, 2017

I HEREBY CERTIFY to the correctness of the above-quoted resolution.

JIMMY C. ANDANG
Secretary to the S.P.

ATTESTED:

EDUARDO M. DUQUE
SP Member
Acting Presiding Officer