RESOLUTION NO. 2019-0100 (Sponsor: Honorable Teodoro M. Quicoy) "A RESOLUTION GRANTING AUTHORITY TO HONORABLE CITY MAYOR SAMUEL S. CO TO DISPOSE, BY WAY OF SALE, THE CITY GOVERNMENT-OWNED REAL ESTATE PROPERTY IDENTIFIED AS LOT NO. 2851 UNDER ORIGINAL CERTIFICATE OF TITLE NO. 0-3,376, LOCATED AT SAN FRANCISCO DISTRICT, THIS CITY, IN SUPPLEMENT TO RESOLUTION NO. 2019-0080 ADOPTED BY THIS BODY DURING ITS 6TH REGULAR SESSION, WHICH CONTRACT OF SALE, HOWEVER, SHALL BE SUBJECT TO THE CONFIRMATION OF THE SANGGUNIANG PANLUNGSOD" WHEREAS, this august body, during its 6th Regular Session held on 14 August 2019, passed Resolution No. 2019-0080, which, in gist, adopted the recommendation of the City Appraisal Committee setting the appraised value of the City Government-owned parcels of land identified as Lot No. 2851 covered by Original Certificate of Title No. O-3,376 located at San Francisco District, this City in the amount of P25,000.00 to P30,000.00 per square meter, with a further authority to the Honorable City Mayor to negotiate and offer for sale the said parcels of land purposely to generate additional revenues to fund all priority development projects of the city to include the state-of-the-art sports complex, complete with all the facilities and amenities; WHEREAS, the present administration's proposition to dispose the aforesaid property was supported and sustained by the fact that the present City Sports Oval Complex is no longer feasible and viable for advance sports development alongside the other priority development projects to help steer and propel the socio-economic growth of the city which, at this point, requires additional fund sources; WHEREAS, to complement Resolution No. 2019-0080, there is an urgent need to grant authority to the Honorable City Mayor to dispose, by way of sale, the afore-mentioned city government-owned property considering that it would not only provide sufficient funds for the city government but also spawn essential funding requirements for the acquisition and construction/establishment of a state of the art sports complex as well as greatly contribute to the improvement of the socio-economic profile of the city with the expansion of the city's commercial district, provided that the Contract of Sale to be entered into by the City Chief Executive with any and all prospective buyer shall be subject to the confirmation of this Sangguniang Panlungsod; NOW, THEREFORE, on seconded motion of Honorable Teodoro M. Quicoy, be it RESOLVED to grant, as this body hereby grants authority to Honorable City Mayor Samuel S. Co to dispose, by way of sale, the City Government-Owned Real Estate Property identified as Lot No. 2851 under Original Certificate of Title No. 0-3,376, located at San Francisco District, this City, in supplement to Resolution No. 2019-0080 adopted by this body during its 6th Regular Session, which Contract of Sale, however, shall be subject to the confirmation of the Sangguniang Panlungsod. RESOLVED FURTHER, to let copies of this Resolution be forwarded to His Honor, City Mayor Samuel S. Co, for his information and favorable consideration. APPROVED UNANIMOUSLY. I HEREBY CERTIFY to the correctness of the foregoing resolution. MAPHILINDO Q. OBAOB, MPA, MAGaD Verified: City Vice Mayor/Presiding Officer ATTY. TEODORO M. QUICOY SP Member/ Floor Leader Attested: ELKID P. NACUA Acting Secretary to the Sanggunian