Republic of the Philippines

SANGGUNIANG PANLUNGSOD CITY OF MAKATI

PRESENT: Vice Mayor ERNESTO S. MERCADO - Presiding Officer Councilor JEJOMAR ERWIN S. BINAY, JR. ERLINDA S. GONZALES OSCAR M. IBAY DIVINA A. JACOME RICARDO S. JAVIER FRANCISCO Z. LICHAUCO ROMEO C. MEDINA SALVADOR D. PANGILINAN NELSON S. PASIA ASTOLFO C. PIMENTEL LIBERATO G. SIARON ELIAS V. TOLENTINO, JR. ABC Pres. RODOLFO F. SESE - Sectoral Representative ABSENT: Councilor JOHNNY S. WILSON - Sick Leave ISRAEL S. CRUZADO FERDINAND T. EUSEBIO RICO J. PUNO CHRISTINE P. MERCADO

On motion presented by Councilor Divina A. Jacome, duly seconded, all present members of the Sangguniang Panlungsod approved the following City Resolution on second and final reading.

CITY RESOLUTION NO. 2004-110

Authors: Vice Mayor E.S. Mercado, Councilors J.E.S. Binay, Jr., E.S. Gonzales, D.A. Jacome, R.S. Javier, F.Z. Lichauco, R.C. Medina, S.D. Pangilinan, N.S. Pasia, A.C. Pimentel, L.G. Siaron, E.V. Tolentino, Jr. and R.F. Sese

A RESOLUTION RATIFYING THE LOAN AGREEMENT AMENDMENT ENTERED INTO BY AND BETWEEN THE CITY GOVERNMENT OF MAKATI, REPRESENTED BY HONORABLE MAYOR JEJOMAR C. BINAY, AND LAND BANK OF THE PHILIPPINES, REPRESENTED BY ITS PRESIDENT AND CHIEF EXECUTIVE OFFICER, MR. MARGARITO B. TEVES, ACKNOWLEDGED BEFORE AND REGISTERED IN THE NOTARIAL BOOK OF ATTY. REYNAULD R. VILLAFUERTE AS DOC. NO. 205, PAGE 42, BOOK IV, SERIES OF 2004, SUBJECT TO ALL LAWS AND EXISTING LEGAL RULES AND REGULATIONS.

WHEREAS, pursuant to City Ordinance No. 2004-047, the City Government entered into an Amended Loan Agreement on the existing / approved term loans with the Land Bank of the Philippines so that the unreleased / remaining portion thereof may be used by the city for the purchase of medical equipment for the Ospital ng Makati, and for other purposes. WHEREAS, the Amended Loan Agreement has been reviewed and certified by the City Law Department to be legal in its form and substance; NOW THEREFORE, BE IT RESOLVED, AS IT IS HEREBY RESOLVED BY THE SANGGUNIANG PANLUNGSOD OF MAKATI, METRO MANILA, BY VIRTUE OF THE POWERS VESTED IN IT BY LAW, IN SESSION ASSEMBLED, to ratify the Loan Agreement Amendment entered into by and between the City Government of Makati, represented by Honorable Mayor Jejomar C. Binay, and Land Bank of the Philippines, represented by its President and Chief Executive Officer, Mr. Margarito B. Teves, acknowledged before and registered in the Notarial Book Atty. Reynauld R. Villafuerte as Doc. No. 205, Page 42, Book No. IV, Series of 2004, subject to all laws and existing legal rules and regulations. Let copy of this Resolution be furnished the Land Bank of the Philippines and other concerned offices for their information and guidance. This resolution shall take effect immediately upon its approval. APPROVED BY THE SANGGUNIANG PANLUNGSOD OF MAKATI, METRO MANILA, in its regular session held on June 15, 2004.

Certified true and correct by: ROGELIO U. MARASIGAN City Secretary Attested by:

ERNESTO S. MERCADO Vice Mayor & Presiding Officer

APPROVED:

JEJOMAR C. BINAY

City Mayor