2008 R - 98 - AUTHORIZING THE CITY MAYOR TO REPRESENT THE CITY OF OLONGAPO TO ENTER INTO A SEVEN-YEAR TERM LOAN WITH THE DBP

2008 R - 98 - A RESOLUTION AUTHORIZING THE HONORABLE CITY MAYOR JAMES GORDON, JR. TO REPRESENT THE CITY OF OLONGAPO TO ENTER INTO A SEVEN-YEAR TERM LOAN WITH THE DEVELOPMENT BANK OF THE PHILIPPINES (DBP) USING AS COLLATERAL THE TWENTY FOUR MILLION NINE HUNDRED SIXTY NINE THOUSAND ONE HUNDRED FORTY PESOS (PHP24,969,140.00) SHARE OF THE CITY IN THE UNRELEASED INTERNAL REVENUE ALLOTMENT (IRA) DIFFERENTIAL FOR FYs 2001 AND 2004 FOR THE PURPOSE/S STATED HEREIN AND TO SIGN THE LOAN AGREEMENT, DEED OF ASSIGNMENT, THE PROMISSORY NOTE AND THE OTHER DOCUMENTS RELATED THERETO