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Tagbilaran City Hall Wants Another 50 Million Pesos Loan
« on: January 24, 2010, 10:10:12 PM »
Bohol Chronicle: The passage of a resolution for the release of an additional P50 million loan with the Development Bank of the Philippines (DBP) was virtually blocked during last Friday's session of the Sangguniang Panlungsod.

Vice Mayor Jose Antonio Veloso stood firm on demanding the accomplishment report of the first P50 million loan released last year which was intended for road rehabilitation.   
    
VELOSO

The stand of the vice mayor came even as City Kagawad Bebiano Inting raised queries on why the city government has to avail of loans when it has a surplus of P103 million during the past three years.   
       
Because of Veloso's stand block the passage of the resolution, City Kagawad Oscar Glovasa, chairman of the commmittee on appropriations set an urgent meeting tomorrowto discuss the P50 million loan.

Veloso said the people of Tagbilaran should know how every centavo is spent considering that this will be the second time the city will avail of a loan.

The vice mayor said they demanded from the local finance committee composed of the budget officer, planning officer and the city treasurer the accomplishment report stating how the first P50 million released last year was spent under the "road rehabilitation" program.

For his part, City kagawad Djingo Rama likewise asked for the program of work of this additional P50 million sought through the Glovasa committee.

The vice mayor said the present administration has a lot of unresolved funding issues as the Lim leadership remains to hold the release of documents including the more than P100 million supplemental budget released last year.

"This is the first time that the city is faced with a leadership whose moral obligation for transparency is consistently being ignored," the vice mayor said citing that the mayor is confident that he has the majority bloc to support and protect him in any budgetary inquiries.

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