Republic of the Philippines

SANGGUNIANG PANLUNGSOD
CITY OF MAKATI

PRESENT:

Vice Mayor ERNESTO S. MERCADO - Presiding Officer

Councilor JEJOMAR ERWIN S. BINAY, JR.
“ ERLINDA S. GONZALES
“ OSCAR M. IBAY
“ DIVINA A. JACOME
“ RICARDO S. JAVIER
“ FRANCISCO Z. LICHAUCO
“ ROMEO C. MEDINA
“ SALVADOR D. PANGILINAN
“ NELSON S. PASIA
“ ASTOLFO C. PIMENTEL
“ LIBERATO G. SIARON
“ ELIAS V. TOLENTINO, JR.
ABC Pres. RODOLFO F. SESE - Sectoral Representative

ABSENT:

Councilor JOHNNY S. WILSON - Sick Leave

“ ISRAEL S. CRUZADO
“ FERDINAND T. EUSEBIO
“ RICO J. PUNO
“ CHRISTINE P. MERCADO

On motion presented by Councilor Divina A. Jacome, duly seconded, all present members of the
Sangguniang Panlungsod approved the following City Resolution on second and final reading.

CITY RESOLUTION NO. 2004-110

Authors: Vice Mayor E.S. Mercado, Councilors J.E.S. Binay, Jr.,

E.S. Gonzales, D.A. Jacome, R.S. Javier, F.Z. Lichauco,
R.C. Medina, S.D. Pangilinan, N.S. Pasia, A.C. Pimentel,
L.G. Siaron, E.V. Tolentino, Jr. and R.F. Sese

A RESOLUTION RATIFYING THE LOAN AGREEMENT AMENDMENT

ENTERED INTO BY AND BETWEEN THE CITY GOVERNMENT OF
MAKATI, REPRESENTED BY HONORABLE MAYOR JEJOMAR C.
BINAY, AND LAND BANK OF THE PHILIPPINES, REPRESENTED BY ITS
PRESIDENT AND CHIEF EXECUTIVE OFFICER, MR. MARGARITO B.
TEVES, ACKNOWLEDGED BEFORE AND REGISTERED IN THE
NOTARIAL BOOK OF ATTY. REYNAULD R. VILLAFUERTE AS DOC. NO.
205, PAGE 42, BOOK IV, SERIES OF 2004, SUBJECT TO ALL LAWS AND
EXISTING LEGAL RULES AND REGULATIONS.
WHEREAS, pursuant to City Ordinance No. 2004-047, the City Government entered into an
Amended Loan Agreement on the existing / approved term loans with the Land Bank of the
Philippines so that the unreleased / remaining portion thereof may be used by the city for the purchase
of medical equipment for the Ospital ng Makati, and for other purposes.

WHEREAS, the Amended Loan Agreement has been reviewed and certified by the City Law
Department to be legal in its form and substance;

NOW THEREFORE, BE IT RESOLVED, AS IT IS HEREBY RESOLVED BY THE

SANGGUNIANG PANLUNGSOD OF MAKATI, METRO MANILA, BY VIRTUE OF THE
POWERS VESTED IN IT BY LAW, IN SESSION ASSEMBLED, to ratify the Loan Agreement
Amendment entered into by and between the City Government of Makati, represented by Honorable
Mayor Jejomar C. Binay, and Land Bank of the Philippines, represented by its President and Chief
Executive Officer, Mr. Margarito B. Teves, acknowledged before and registered in the Notarial
Book Atty. Reynauld R. Villafuerte as Doc. No. 205, Page 42, Book No. IV, Series of 2004, subject
to all laws and existing legal rules and regulations.

Let copy of this Resolution be furnished the Land Bank of the Philippines and other concerned offices
for their information and guidance.

This resolution shall take effect immediately upon its approval.

APPROVED BY THE SANGGUNIANG PANLUNGSOD OF MAKATI, METRO MANILA, in

its regular session held on June 15, 2004.

Certified true and correct by:

ROGELIO U. MARASIGAN
City Secretary

Attested by:

ERNESTO S. MERCADO
Vice Mayor & Presiding Officer

APPROVED:

JEJOMAR C. BINAY
City Mayor