4 minority legislators vote vs revised Cagayan de Oro investment program

MEMBERS of the city council vote for the approval of the revised Annual Investment Plan 2024 during the regular session on Monday, October 9. Councilors Jose Pepe Abbu Jr., Agapito Eriberto Suan, Yevonna Yacine Emano, and Christian Rustico Achas, also voted against Resolution No. 2023-151 which authorizes Mayor Rolando Uy to negotiate a loan with any disputable government banking institution to fund the project.

The proposed loan amount during the AIP’s first approval was only P1.6 billion but it increased to P2.7 billion after the local finance committee added some proposed amounts for the second phase of the land development and the project’s construction. The changes were made to address the concerns raised by some of the councilors and they also wanted to be open to possible offers that were more advantageous to the city government.

Cabanlas earlier said during the regular session on October 2 that the basis of the proposed loan amount to fund the project under Resolution No. 2023-151 still came from the previous proposal of P2.7 billion. One of the reasons for the transfer was to have a better space for parking, which for him is true, but he stressed that the government can always find ways.

Source: News Formal (newsformal.com)

Philippines Latest News, Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Highway shooting greets acting Northern Mindanao police chief's first day in officeCAGAYAN DE ORO CITY (PNA) – The first day in office of the new acting chief of the Police Regional Office (PRO)-10 (Northern Mindanao) was met with an investigation of an early morning highway shooting in Misamis Oriental that left three dead.    
Source: manilabulletin - 🏆 25. / 51 Read more »

Four previous Israel-Gaza wars in past 15 yearsDefining the News
Source: MlaStandard - 🏆 20. / 55 Read more »

NTC renews permit of NOW Telecom as one of four mobile providersThe National Telecommunications Commission (NTC) renewed the permit of NOW Telecom Inc. to operate mobile telecom services, a top executive said.
Source: MlaStandard - 🏆 20. / 55 Read more »

Iya Villania, Drew Arellano embrace being parents of fourThere’s nothing to worry about having dead air whenever Drew Arellano and wife Iya Villania guest in a show. The husband and wife can tirelessly talk with sense and without getting audiences bored while listening to their stories on family, love and career.
Source: PhilstarNews - 🏆 1. / 94 Read more »

Fil-Am teen turns all four chairs in 'The Voice'It only took less than a minute for 17-year-old Kaylee Shimizu to make all the four judges of
Source: CNN Philippines - 🏆 13. / 63 Read more »

House strips OVP, four other agencies of confidential funds | News |The House of Representatives has removed P1.23 billion worth of confidential funds of five agencies, including the Office of the Vice President (OVP) and the Department of Education (DepEd), under the proposed P5.768-trillion budget for 2024.
Source: gmanews - 🏆 11. / 68 Read more »