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Municipality of Taytay
Province of Rizal

By: Drahcir A. de Paz

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Republic of the Philippines
Office of the Sanguniang Bayan
Taytay, Rizal

Resolution No. 396 series of 2024

A RESOLUTION AUTHORIZING THE MUNICIPAL MAYOR, ALLAN MARTINE S. DE LEON, MPA, TO ENDORSE LOAN DOCUMENTS, AGREEMENTS, NOTES, AND OTHER DOCUMENTS OF THE LOAN TO BE OBTAINED WITH THE DEVELOPMENT BANK OF THE PHILIPPINES FOR LAND ACQUISITION AND DEVELOPMENT OF GOVERNMENT INFRASTRUCTURE PROJECTS IN THE MUNICIPALITY OF TAYTAY, PROVINCE OF RIZAL, AND FOR OTHER PURPOSES

WHEREAS, Section 296 (a) of Republic Act ("R.A.") No. 7160, otherwise known as the Local Government Code of 1991, provides that, “[I]t shall be the basic policy that any local government unit may create indebtedness, and avail of credit facilities to finance local infrastructure and other socio-economic development projects in accordance with the approved local development plan and public investment program";

WHEREAS, Section 297 (a) of R.A. No. 7160 further provides that, "[l]ocal government unit may contract loans, credits, and other forms of indebtedness with any or domestic private bank and other lending institutions to finance the construction, installation, improvement, expansion, operation, or maintenance of public facilities, infrastructure facilities, housing projects, the acquisition of real property, and the implementation of other capital investment projects, subject to such terms and conditions as may be agreed upon by the local government unit and the lender";
WHEREAS, Presidential Decree No. 1461 states that “[t]he Development Bank of the Philippines is a Government Agency entrusted with the task of providing credit facilities for the rehabilitation, development and expansion of the country's agriculture and industry, the reconstruction of property damaged by war, the broadening and diversification of the national economy and the promotion and establishment of private development banks in the provinces and cities";

WHEREAS, the Municipal Government by virtue of the loan contract to be entered into with the Development Bank of the Philippines ("DBP"), shall endorse loan documents, agreements, notes, and other documents of the loan with the DPB in order to provide financing for the accomplishment of projects of the Municipal Government and to accelerate infrastructure and socio-economic development for the welfare of Taytayeño constituents;

WHEREAS, the Municipal Mayor, Allan Martine S. De Leon, MPA, possesses the necessary authority and responsibility to endorse loan documents, agreements, notes, and other documents of the loan with the DPB, and approve such projects in accordance with established guidelines and regulations;

WHEREAS, consistent with the goal of providing Serbisyong May Ngiti to all Taytayeños through prompt and utmost public service, this Sangguniang Bayan Resolution is being issued;

NOW THEREFORE, BE IT RESOLVED, as it is hereby resolved, by the 12th Sangguniang Bayan of Taytay, Rizal, in session duly assembled, hereby AUTHORIZES THE MUNICIPAL MAYOR, ALLAN MARTINE S. DE LEON, MPA, TO ENDORSE LOAN DOCUMENTS, AGREEMENTS, NOTES, AND OTHER DOCUMENTS OF THE LOAN TO BE OBTAINED WITH THE DEVELOPMENT BANK OF THE PHILIPPINES FOR LAND ACQUISITION AND DEVELOPMENT OF GOVERNMENT INFRASTRUCTURE PROJECTS IN THE MUNICIPALITY OF TAYTAY, PROVINCE OF RIZAL, AND FOR OTHER PURPOSES.

RESOLVED FURTHER, that copy of this Resolution be furnished to all concerned for their information and appropriate action.

ADOPTED, this 17th day of April 2024, 6:15 PM at the Sangguniang Bayan Session Hall, Municipality of Taytay, Province of Rizal.

Authored by:
Coun. Ma. Elaine T. Leonardo

Co-Authored by:

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