The Monetary Board has approved Bacolod City’s P4,171,000,000 loan from the Development Bank of the Philippines, Councilor Jude Thaddeus Sayson said Wednesday, July 12.
The Bacolod Sangguniang Panlungsod in turn approved the request of Bacolod Mayor Alfredo Abelardo Benitez for an appropriation ordinance to finance the projects identified in the loan of Bacolod City with DBP.
Sayson said with the appropriation ordinance the bidding of the projects to be financed by the loan can start.
Among the priority projects to be financed by the loan is the purchase of additional property in Barangay Felisa for a sanitary landfill, Sayson said.
There are four landowners who have offered their
properties, Sayson said, adding that what the city government needs is between 10 to 20 hectares.
The city will buy from the landowner who offers the lowest price, he said.
The additional property is needed because the existing city landfill in Barangay Felisa is full, he said.
The second priority is the P500 million legislative building and the third is the rehabilitation of the City Health Office, Sayson said.
“This will be an exciting six months for the city because it will be continues work,” he said.
After the paper work is completed, Sayson expects construction to start in the third quarter of the year.*