RESOLUTION NO. 2019-0122 (Sponsor: Honorable Fernando Y. Pameron) "A RESOLUTION STRONGLY RECOMMENDING TO THE HONORABLE CITY MAYOR TO FAVORABLY CONSIDER THE AVAILMENT OF THE GSIS FINANCIAL ASSISTANCE LOAN PROGRAM (GFAL) OFFERED BY THE GOVERNMENT SERVICE INSURANCE SYSTEM (GSIS) FOR THE BENEFIT OF ALL THE GSIS MEMBER-BENEFICIARY EMPLOYEES OF THE CITY GOVERNMENT OF PAGADIAN" WHEREAS, consistent with its thrust and mandate to provide financial assistance to all its members-beneficiaries purposely to help uplift their financial condition and relieve them from the bondage of loan sharks, the management of Government Service Insurance System (GSIS) has offered and introduced their latest program known as loan transfer and consolidation program also called the GSIS Financial Assistance Program (GFAL); WHEREAS, under the program, the member-beneficiary may be allowed to buy-out their outstanding obligation/loan with other lending institutions in the amount of up to Php500,000.00 with a lower interest rate of Six Percent (6%) Per Annum and longer repayment period of six (6) years; WHEREAS, as can be observed, officials and employees in the City Government of Pagadian-who are bona fide member-beneficiaries of GSIS-are not exempted from being enslaved of financial debt, such that availing the GFAL program offered by the GSIS will surely benefit the city's employee, thus a recommendation for the Honorable City Mayor to avail the same is most appropriate at this prevailing circumstance; NOW, THEREFORE, on seconded motion of Honorable Fernando Y. Pameron, be it RESOLVED to strongly recommend, as it is hereby strongly recommended to the Honorable City Mayor to favorably consider the availment of the GSIS Financial Assistance Loan Program (GFAL) offered by the Government Service Insurance System (GSIS) for the benefit of all the GSIS member-beneficiary employees of the City Government of Pagadian. RESOLVED, FURTHER, to let a copy of this Resolution be forwarded to His Honor, City Mayor Samuel S. Co, for his information and appropriate action; and to the Branch Manager, Ms. Willa Guantero-Mangubat, GSIS-Pagadian Branch, Barangay Dao, this City, for information, guidance and reference. 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