AN ORDINANCE APPROVING AND RATIFYING THE TERMS AND CONDITIONS OF THE TERM LOAN AGREEMENT AND DEED OF CONTINUING ASSIGNMENT WITH HOLD-OUT AGREEMENT SIGNED AND ENTERED INTO BY AND BETWEEN THE CITY OF TAGUM, DAVAO DEL NORTE,  REPRESENTED BY THE LOCAL CHIEF EXECUTIVE, HON. ALLAN L. RELLON, DPA, PhD AND THE DEVELOPMENT BANK OF THE PHILIPPINES (DBP) REPRESENTED BY ITS LENDING HEAD, AVP AMELITA B. PINANDAY, WITH THE AGGREGATE LOAN AMOUNT OF SIX HUNDRED SEVENTY FIVE MILLION THREE HUNDRED FORTY THOUSAND PESOS (P675,340,000.00) TO FINANCE THE FOLLOWING PROJECTS:

  1. CONSTRUCTION OF INTERMODAL TRANSPORT TERMINAL (TOTIT MODULE 4)
  2. CONSTRUCTION OF CITY SANITARY LANDFILL
  3. COMPLETION OF SCHOOL BUILDINGS
  4. CONSTRUCTION OF RADIO STATION
  5. CONSTRUCTION OF NEW ECONOMIC ENTERPRISES BUILDINGS
  6. REHABILITATION OF OLD ECONOMIC ENTERPRISES BUILDINGS
  7. CONSTRUCTION OF VARIOUS INFRASTRUCTURE PROJECTS
  8. POWER GENERATION CAPACITY UPGRADE OF THE CITY HALL
  9. ACQUISTION OF VARIOUS HEAVY AND TRANSPORTATION EQUIPMENT
  10. REVENUE ADMINISTRATION AND MOBILIZATION PROJECT