“A RESOLUTION AUTHORIZING THE LOCAL CHIEF EXECUTIVE, HON. REY T. UY, TO ENTER INTO A DEED OF ASSIGNMENT WITH HOLD-OUT AGREEMENT WITH THE DEVELOPMENT BANK OF THE PHILIPINES (DBP) FOR AN EQUIPMENT LOAN AMOUNTING TO FIFTEEN MILLION PESOS (PhP 15,000,000.00), FOR THE PURCHASE AND ACQUISITION OF ADDITIONAL EARTH-MOVING EQUIPMENT AND EXCAVATING MACHINES TO EXPEDITE COMPLETION OF CITY PROJECTS AND APPROVING & RATIFYING THE TERMS AND CONDITIONS OF SAID LOAN AGREEMENT AND ITS RELATED DOCUMENTS.”