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WHEREAS, Section 40 (a) of Presidential Decree No. 464, otherwise known as the Real Property Tax Code, as amended by PRESIDENTIAL DECREE NO. 1812 BY GRANTING SPECIAL AUTHORITY TO THE PRESIDENT TO PROVIDE FLEXIBILITY IN THE REAL PROPERTY TAX SYSTEM TO MEET ECONOMIC EXIGENCIES AND/OR PROMOTE THE GENERAL WELFARE provides Exemptions from Real Property Tax. The exemption shall be as follows: (a) Real property owned by the Republic of the Philippines or any of its political subdivisions and any government-owned corporation so exempt by its charter: Provided; however, That this exemption shall not apply to real property of the above named entities the beneficial use of which has been granted, for consideration or otherwise, to a taxable person. WHEREAS, as real properties of the City of Talisay, the old City Hall, the main public market, and the commercial building for commercial-mixed use, cannot be the subject of Real Property Tax as the same is exempt therefrom as provided in Section 40 (a) of Presidential Decree No. 464; NOW, THEREFORE, BE IT RESOLVED as it HEREBY RESOLVES, the approval of the exemption of the City Hall, the main public market, and the commercial building for commercial-mixed use Restored and Redeveloped though a public-private partnership (PPP) under a Build-Transfer-Operate (BTO) scheme, from the imposition of Real Property Tax. RESOLVED FINALLY, upon adoption of this Ordinance a certified copy of this Ordinance be furnished Honorable Eric M. Saratan, M.D., City Mayor of the City of Talisay, Negros Occidental for information, guidance and record purposes; -00O00-