APPROPRIATION ORDINANCE

Number 2008-005

Sponsored by              : Hon. Aniceto D. Villaluz, Jr.

Co-Sponsors              : Hons. Ricardo M. Regalia, Jr., Raul C. Rivera, Joan D.                                           Cagape, Jeorge M. Largado, Mamerto L. Mayoga, Jr., Jose                                     M. Dumaguete, Ted Romulo A. Del Rio, Jose Severino G.                              Nacional, Jr., Samuel P. Daclan and Peter Hilary J. Encarnacion

Affirmative Votes         : Eleven (11)     

AN ORDINANCE ENACTING SUPPLEMENTAL BUDGET NO.  01 ON FUNDS ACTUALLY AVAILABLE FROM THE PROCEEDS OF THE LOAN FROM THE DEVELOPMENT BANK OF THE PHILIPPINES (DBP) IN THE AMOUNT OF FIVE HUNDRED EIGHT MILLION SIX HUNDRED THIRTY THOUSAND PESOS (P508,630,000.00)

            Be it enacted by the Sangguniang Panlungsod of the City of Kabankalan, that:

            Section 1. There is hereby presented by the City Mayor for enactment affecting the appropriation of the proceeds of the loan from the Development Bank of the Philippines (DBP) intended for the concreting project of various barangay roads in the City of Kabankalan and for the different development projects listed in the 2008 Annual Investment Plan;

            Section 2.       Declaration of Objectives:

2.1.            To provide funds for the concreting of various barangay roads of the city

2.2.           To provide funds for different development projects listed in the 2008 Annual Investment Plan of the city.

            Section 3.       Appropriation Programme. – Funds actually available in the amount of FIVE HUNDRED EIGHT MILLION SIX HUNDRED THIRTY THOUSAND PESOS (P508,630,000.00) are hereby appropriated as follows:

I.                    Source of Fund:

Proceeds of the loan from DBP                                                   P508,630,000.00

II.                  Appropriations :

                  1. Concreting of various barangay roads                                     P308,630,000.00

                                                TOTAL APPROPRIATIONS                         P308,630,000.00

    III.        Unappropriated Balance. . . . . . . . . . . . . . . . . . .                          200,000,000.00

            Section 4. Disbursement of Funds – The disbursement of funds appropriated by virtue of this Ordinance shall be subject to the usual accounting and auditing regulations.   

ENACTED this 4^th day of March 2008.

x---x---x

I hereby certify to the correctness of the foregoing Ordinance:

                                                                                                MA. VIRGINIA G. ESPAÑOLA

                                                                                                 LLSO IV/ Acting SP Secretary

ATTESTED:

        DELIA O. ANACAN

        City Mayor/Presiding Officer

APPROVED:

PEDRO P. ZAYCO, JR.

 City Mayor

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Filename:  spr2008/ord 2008-005