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Sunday, April 14, 2024

SP passes appropriation ordinance for city’s P4.1B loan

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The Bacolod Sangguniang Panlungsod yesterday approved on first, second, and third reading, an appropriation ordinance to finance the projects identified in the loan of the City of Bacolod with the Development Bank of the Philippines in the amount of P4.1 billion.

Acting Bacolod Vice Mayor Jude Thaddeus Sayson yesterday said the DBP has approved a loan of P5.5 billion to finance the city’s various projects. However, the monetary board only approved the amount of P4.1 billion, considering the city has a pending loan amounting to P1.7 billion to finance its coliseum and museum project.

Sayson, who was designated by Vice Mayor El Cid Familiaran as acting vice mayor until today, said that out of the 20 projects identified by the city to be funded by the P4,171,000,000 loan,  they will prioritize the construction of the legislative building amounting to P515 million and the City Health Complex amounting to P220 million.

All these projects will pass have to through the SP for approval after undergoing the bidding process, he said.

Other projects to be funded under the P4.1 billion loan are the construction/improvement of mini hospitals for five barangays amounting to P135 million; improvement of City Hall – P223 million; rehabilitation of public markets – P525 million; construction of Bacolod warehouse – P67.9 million; construction of City Engineering motorpool area – P30.80 million; improvement of tree park in Brgy. Alangilan – P47 million; construction of pedestrian mall – P50 million;

Construction of recovery and recycling complex and ecopark – P103 million;  construction of central archive – P184 million; construction of underground cabling – P300 million; improvement of various drainages – P320 million; construction/improvement of various roads – P300 million; asphalt overlay of various roads – P50 million; acquisition of lots – P2 billion; installation of solar power generating systems of government center and barangays – P100 million; construction of streetlights – P25 million; construction of traffic signalization – P25 million, and acquisition of various furniture and equipment – P279.300 million. (Chrysee Semillano via TVDS photo by TVDS)

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