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RESOLUTION NO. 17-200-11-2022 – A RESOLUTION CONFIRMING THE VALIDITY OF CITY ORDINANCE NO. 552, SERIES OF 2022, OF THE SANGGUNIANG PANLUNGSOD OF MATI, DAVAO ORIENTAL, ENTITLED: “AN ORDINANCE RATIFYING THE TERMS AND CONDITIONS OF THE APPROVED LOAN WITH THE LANDBANK OF THE PHILIPPINES IN THE AMOUNT OF THREE HUNDRED NINETY NINE MILLION TWO HUNDRED FOURTEEN THOUSAND ONE HUNDRED SEVENTY PESOS (Php399,214,170.00) TO FUND THE FOLLOWING PROJECTS: CONSTRUCTION / REHABILITATION OF GOVERNMENT BUILDINGS (Php77,500,000.00), ROAD CONCRETING (Php82,000,000.00), CONSTRUCTION OF FLOOD CONTROL / DRAINAGE SYSTEM STRUCTURES (Php18,000,000.00), ESTABLISHMENT OF POTABLE WATER SYSTEM PROJECTS (Php36,000,000.00), OTHER CONSTRUCTION PROJECT – FGR PARK MUSICAL DANCING FOUNTAIN (Php32,000,000.00), INSTALLATION OF TRAFFIC LIGHTS (Php22,000,000.00), LAND ACQUISITION PROJECTS (Php50,714,170.00), LAND DEVELOPMENT PROJECTS (Php48,000,000.00), AND HEAVY EQUIPMENT ACQUISITION PROJECT (Php33,000,000.00); GRANTING THE LOCAL CHIEF EXECUTIVE, HON. MICHELLE MARIE DENISE N. RABAT, THE FULL POWER AND AUTHORITY TO REPRESENT THE CITY GOVERNMENT OF MATI, PROVINCE OF DAVAO ORIENTAL TO SIGN AND EXECUTE DOCUMENTS RELATED TO THE BORROWING; AND APPROVING THE TERMS AND CONDITIONS SET FORTH BY THE LENDING INSTITUTION”, CONSIDERING THAT THE SAME IS WITHIN THE PRESCRIBED POWERS OF THE SANGGUNIANG PANLUNGSOD PURSUANT TO APPLICABLE PROVISIONS OF RA 7160 OR THE LOCAL GOVERNMENT CODE OF 1991.

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