2016 - R - 33 A RESOLUTION AUTHORIZING THE CITY MAYOR, HONORABLE ROLEN C. PAULINO TO ENTER INTO AND SIGN THE DEED OF ABSOLUTE SALE FROM THE DMCI PROJECT DEVELOPERS, INC., THE DEED OF ACCESSION TO THE JOINT VENTURE AGREEMENT AND OTHER DOCUMENTS RELATIVE THERETO
EXCERPTS
FROM THE MINUTES OF THE SPECIAL SESSION
OF THE SANGGUNIANG PANLUNGSOD OF OLONGAPO, HELD ON
MARCH
18, 2016 AT THE CITY HALL.
PRESENT:
Hon.
Aquilino Y. Cortez, Jr. - - - - - - - - - - - -City Councilor & Temporary
Presiding Officer
Hon. Eduardo
G. Guerrero - - - - - - - - - - - - -City Councilor
Hon. Elena
C. Dabu - - - - - - - - - - - - - - - - - -City Councilor
Hon. Noel Y. Atienza- - - - - - - - - -
- - - - - - -City Councilor
Hon. Alreuela M. Bundang-Ortiz - - - - -
- - - -City Councilor
Hon. Edna A. Elane- - - - - - - - - - - - - - - - - -City Councilor
Hon.
Emerito Linus D. Bacay - - - - - - - - -
- -City Councilor
Hon. Randy C. Sionzon - - - - - - - - - - - - - - -President, Liga
ng mga Barangay
Hon. Egmidio M. Gonzales, Jr. - - - - -
- - - - -Indigenous Peoples Mandatory Representative
ABSENT:
Hon. Rodel S. Cerezo- - - - - - - - - -
- - - - - - -City Vice-Mayor
Hon. Eyrma
Yvette D. Marzan-Estrella- - - - -City Councilor
Hon. Eduardo J. Piano - - - - - - - - -
- - - - - - -City Councilor
Hon. Benjamin G. Cajudo II - - - - - - - - - - - -City Councilor
RESOLUTION
NO. 33
(Series
of 2016)
A RESOLUTION
AUTHORIZING THE CITY MAYOR, HONORABLE ROLEN C. PAULINO TO ENTER INTO AND SIGN
THE DEED OF ABSOLUTE SALE FROM THE DMCI PROJECT DEVELOPERS, INC., THE DEED OF
ACCESSION TO THE JOINT VENTURE AGREEMENT AND OTHER DOCUMENTS
RELATIVE THERETO
WHEREAS, pursuant
to Resolution No. 29, Series of 2015,
the City Mayor, Honorable Rolen C. Paulino was given authority to buy
Subic Water and Sewerage Company, Inc. Shares of Stock from the DM Consunji
Project Developers, Inc. representing ten percent (10%) shares or equivalent to
Nine Hundred Fifty Thousand Five Hundred Eighty (915,580) shares at Two Hundred
Thirty Pesos (PHP230) per share amounting to Two Hundred Ten Million Five
Hundred Eighty Three Thousand Four Hundred Pesos (PhP210,583,400.00);
WHEREAS, the DMCI, Project Developers,
Inc. is the owner of Three Million Six Hundred Sixty Two Thousand Three Hundred
Twenty common “D” shares of stock representing 40% of the total issued and
outstanding capital stock of Subic Water and Sewerage Company, Inc.
WHEREAS, Olongapo City explicitly expressed its
intention to buy, acquire and purchase Nine Hundred Fifty Thousand Five Hundred
Eighty (915,580) shares of stocks and DMCI Project Developers, Inc. has agreed
to sell that same number of common “D” shares of stocks;
Con’t. of Resolution No. 33,
Series of 2016.
-2-
WHEREAS,
by virtue of Resolution No. 30, Series of 2015, the City Mayor was
likewise given the authority to contract a loan with the Development Bank of
the Philippines amounting to Two Hundred Ten Million Five Hundred Eighty Three
Thousand Four Hundred Pesos
(PhP210,583,400.00) for the purchase of the said stocks;
WHEREAS,
the City also received the Monetary Board Opinion from Bangko Sentral ng
Pilipinas as regards to the implications of the proposed loan from the
Development Bank of the Philippines (DBP) to finance the said purchase of
Subicwater stocks with the notice of approval for the release of the first
tranche of the approved loan;
WHEREAS, premises considered it is
absolutely necessary that an authority be given for the local chief executive
to enter into and sign the Deed of
Absolute Sale from the DMCI Project Developers, Inc., Irrevocable Proxy and the
Deed of Accession to the Joint venture Agreement and other documents relative
thereto;
WHEREAS, for such, this is also to
explicitly provide the authority for the full execution of the said Deed of
Accession to the Joint Venture Agreement;
NOW, THEREFORE, on motion of City
Councilor Noel Y. Atienza, with the unanimous accord of the Members of the Sangguniang
Panlungsod present,
RESOLVED, AS IT IS HEREBY RESOLVED, by the Sangguniang Panlungsod in session
assembled to authorize, as it hereby authorizes the City Mayor, Honorable Rolen
C. Paulino to enter into and sign the Deed of Absolute Sale from the DMCI
Project Developers, Inc., the Deed Of Accession to the Joint Venture Agreement
and other documents relative thereto.
Let
a copy of the Deed of Absolute Sale be made as integral part of this
Resolution.
APPROVED
UNANIMOUSLY, March 18, 2016.
RODEL
S. CEREZO
City
Vice-Mayor
(absent)
EYRMA YVETTE D.
MARZAN-ESTRELLA EDUARDO J. PIANO
City Councilor City
Councilor
(absent) (absent)
AQUILINO Y. CORTEZ,
JR. EDUARDO G.
GUERRERO
City Councilor City Councilor
Temporary Presiding Officer
BENJAMIN G. CAJUDO II
ELENA C. DABU
City Councilor City Councilor
(absent)
Con’t. of Resolution No. 33,
Series of 2016.
-3-
NOEL Y. ATIENZA ALREUELA M.
BUNDANG-ORTIZ
City Councilor
City Councilor
EDNA A. ELANE EMERITO LINUS D. BACAY
City Councilor City Councilor
RANDY C. SIONZON EGMIDIO M. GONZALES, JR.
President, Liga ng mga Barangay Indigenous Peoples Mandatory
Representative
ATTEST:
MILDRED C. MONJE
Temporary Council Secretary
APPROVED BY HIS HONOR, THE CITY MAYOR ON________________________________.
ROLEN C. PAULINO
City Mayor
ATTEST:
SHEILA
R. PADILLA
Secretary to the City Mayor
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