RESOLUTION NO. 2023-0328 (Sponsor: Committee on Finance and Appropriations) "A RESOLUTION AUTHORIZING THE CITY TREASURER, MS. NONA GRACE E. DURAN, TO REACTIVATE SPECIFIED DORMANT ACCOUNTS OF THE CITY GOVERNMENT OF PAGADIAN WITH THE LAND BANK OF THE PHILIPPINES-PAGADIAN BRANCH" WHEREAS, information revealed that the City Government of Pagadian has maintained several bank accounts with the Land Bank of the Philippines (LBP) which now have become dormant; WHEREAS, upon careful perusal and evaluation by the concerned Committee--to which the foregoing matter was initially referred--it was revealed that after the completion of the projects these bank accounts were purposely opened and despite the availability of fund balances, it have become inactive or dormant for which the City Treasurer, by way of a letter officially endorsed by the Honorable City Mayor, requested for reactivation and to further waive the penalties imposed thereto; WHEREAS, this body, in concurrence with the favorable recommendation of Committee on Finance and Appropriations, finds it imperative to reactivate the specified dormant accounts of the City Government with the Land Bank of the Philippines; NOW, THEREFORE, on seconded motion of Honorable Ann Marjorie N. Revelo, be it RESOLVED to authorize, as this body hereby authorizes the City Treasurer, Ms. Nona Grace E. Duran, to reactivate specified dormant accounts of the City Government of Pagadian with the Land Bank of the Philippines-Pagadian Branch, to wit: Account No. Account Name Deposit Balance as of Feb. 28,2023 0522-1115-38 TRUST FUND SECAL 950,537.07 0522-1237-65 TRUST FUND/MRDP-CFAD (GOP) 331,590.84 0522-1233-07 TRUST FUND/MRDP-CFAD (GOP) EC 1,867,143.00 0522-1220-68 TRUST FUND/MRDP-CFAD-EQUITY 1,000,117.00 0522-1129-92 TRUST FUND-MGP 3,230,440.65 0522-1134-25 TRUST FUND-LIGA 228,117.40 0522-1127-80 TRUST FUND/IBRA 171,851.69 0522-1139-13 TRUST FUND/AIRPORT DEVT. PROJ. 234,523.97 0522-1177-81 TRUST FUND/BIARSP 357,571.83 0522-1357-80 TRUST FUND-PCSO 638,634.15 TOTAL 9,010,527.60 RESOLVED, FURTHER, to let copies of this Resolution be forwarded to the City Treasurer, for immediate favorable action; to His Honor, City Mayor Samuel S. Co; and to the Branch Manager-Land Bank of the Philippines, Pagadian Branch, for information, guidance and reference. APPROVED UNANIMOUSLY. I HEREBY CERTIFY to the correctness of the foregoing resolution. BALDOMERO FERNANDEZ City Vice Mayor/Presiding Officer Verified: JESUS B. BAJAMUNDE, JR. SP Member/Floor Leader Attested: ELKID P. NACUA Secretary to the Sangguniang Panlungsod