Provincial Government of Davao del Norte

OFFICE OF SANGGUNIANG PANLALAWIGAN

EXCERPT FROM THE MINUTES OF THE ____ TH REGULAR SESSION OF THE SANGGUNIANG
PANLALAWIGAN OF DAVAO DEL NORTE, HELD AT THE SP SESSION HALL ON MONDAY, 08 JUNE
2020.

ORDINANCE NO. ______

AN ORDINANCE AUTHORIZING THE LOAN OF MUNICIPAL GOVERNMENT OF ASUNCION WITH

LAND BANK OF THE PHILIPPINES IN THE AMOUNT OF ______________________
(Php___________), FOR THE PROGRAMS, PROJECTS AND ACTIVITIES (PPAs) OUTLINED IN
LGU’S LOCAL DEVELOPMENT INVESTMENT PLAN (LDIP)/ANNUAL INVESTMENT PLAN AND
AUTHORIZING THE LOCAL CHIEF EXECUTIVE, MAYOR EUFRACIO E. DAYADAY TO NEGOTIATE
AND OBTAIN LOAN FOR IN BEHALF OF THE MUNICIPAL GOVERNMENT OF ASUNCION.

Whereas, under the Local Government Code (LGC) of 1991, a local government may
contract loans, credits and other forms of indebtedness to finance the LGU’s various
infrastructures and other capital investment projects.

Whereas, with the thrust of responsive local governance and commitment to spur socio-
economic development that will reduce incidence of poverty and improve the quality of life of
its people, the present administration shall implement Programs, Projects and Activities (PPAs)
outlined in LGU’S Local Development Investment Program(LDIP) and Annual Investment Plan
(AIP) described as follows :

Project Description Estimated Cost of the Project

TOTAL

Whereas, due to limited financial resources, herein referred projects will be funded
through loan from the Land Bank of the Philippines.

WHEREFORE, RESOLVED, AS IT IS HEREBY RESOLVED, TO PASS AN ACT EXPRESSING SUPPORT

TO THE PROPOSED BORROWING AND AUTHORITY IS HEREBY GRANTED TO MAYOR EUFRACIO
E. DAYADAY, TO NEGOTIATE AND OBTAIN LOAN IN BEHALF OF THE MUNICIPAL GOVERNMENT
OF ASUNCION.
RESOLVED FURTHER, that copies of this ordinance be furnished to Land Bank of the Philippines,
Municipal Treasurer, Accountant, Budget Officer and other offices concerned for their
information.

CARRIED UNANIMOUSLY this 8th day of December 2020 at Asuncion, Province of Davao
del Norte.

SANGGUNIANG BAYAN CONCURRENCE:

___________________________ _________________________
SB Member SB Member
___________________________ _________________________
SB Member SB Member
____________________________ __________________________
SB Member SB Member
____________________________ __________________________
SB Member SB Member
____________________________ __________________________
SB Member SB Member

CERTIFIED TRUE AND CORRECT:

___________________________
Secretary to the Sanggunian

Attested:

Vice Mayor
(Presiding Officer)

Approved:

` ATTY. EUFRACIO E, DAYADAY

Mayor