Pagadian City Resolution No. 2024-0768 — Authorizing Honorable City Mayor Samuel S. Co And The City Treasurer,…

RESOLUTION NO. 2024-0768
(Sponsor: Committee on Finance and Appropriations)

"A RESOLUTION AUTHORIZING HONORABLE CITY MAYOR SAMUEL S. CO AND THE CITY TREASURER, MS. NONA GRACE E. DURAN, BOTH OF THIS CITY, TO REACTIVATE SPECIFIED DORMANT ACCOUNTS OF THE CITY GOVERNMENT OF PAGADIAN WITH THE LAND BANK OF THE PHILIPPINES-PAGADIAN BRANCH"
WHEREAS, 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, have become inactive or dormant for which the City Treasurer, by way of a letter, requested for the reactivation of the same to prevent incurring penalties 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 Ma. Alicia Elena V. Ariosa, be it
 RESOLVED to authorize, as this body hereby authorizes Honorable City Mayor Samuel S. Co and City Treasurer, Ms. Nona Grace E. Duran, to reactivate the following 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 
0522-1251-05 TRUST FUND/PCB 1 p 1,360,356.57
0522-1351-60 TRUST FUND-NHA PROJECTS 22,411,010.00
0522-1351-94 TRUST FUND CSWDO LINGAP CENTER 11,890.41
0522-1360-00 TRUST FUND - INFIRMARY PHILHEALTH 15,020.00
 TOTAL p 23,798,276.98 
 RESOLVED, FURTHER, to let copies of this Resolution be forwarded to Honorable City Mayor Samuel S. Co; and City Treasurer Nona Grace E. Duran, for their immediate favorable action; 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:

 MONIQUE SHAIRA Y. TO
 SP Member/Floor Leader

Attested:

 ELKID P. NACUA
 Secretary to the Sangguniang Panlungsod