San Carlos City, Bugallon take on loans

By December 2, 2012Business, News

FOR SOCIO-ECONOMIC PROJECTS

THE city council of San Carlos has passed an ordinance approving a loan P250-million to fund the local government’s various projects.

The ordinance is now with the provincial board for review and passage.

Projects to be funded include the construction of sanitary landfill and solid waste management, purchase of sanitary landfill heavy equipment certified to be a local infrastructure and/or other socio-economic development projects in accordance with the approved Annual Investment Program (AIP) for 2012 of the city government.

The AIP is supported by a feasibility study prepared by Asia Envirocon, Inc., which was also approved by the city council earlier.

Meanwhile, the municipal council of Bugallon town also passed an ordinance authorizing the borrowing of P30-million to fund priority projects such as the completion of Bugallon Community Hospital, purchase of furniture, fixtures and equipment and rehabilitation of barangay roads in Poblacion.—Eva Visperas

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