THREE HUNDRED MILLION TO FUND KORONADAL PUBLIC MARKET BUILDINGS
In the aftermath of the fire incident that happened in the Koronadal Public Market in the year 2017, the operation of the Public Market is far from being normal and has been losing because it could not be immediately rehabilitated due to limited resources. Although there is an initial structure built in the middle to accommodate those who were affected by the fire but there are still a lot to be done in the public market. For the city to rebuild it into much better, beautiful and competitive public market, the Executive Department through the administration of the City Mayor Eliordo U.
Ogena prepared and presented the rehabilitation plan of the Koronadal Public Market. And finding the best possible option for the project to be materialized is to seek financing through loan with a financial institution. is hereby given authority to enter into a loan agreement with the Development Bank of the Philippines in the amount of Three Hundred Million Pesos.
By the principal sponsorship of Hon. Edwin G. Abris, Chairman on Committee on Finance, with the authority from the Sangguniang Panlungsod, approves an “AN ORDINANCE AUTHORIZING THE BORROWING OF THE CITY OF KORONADAL WITH DEVELOPMENT BANK OF THE PHILIPPINES (DBP) IN THE AMOUNT OF THREE HUNDRED MILLION PESOS (PHP 300,000,000.00) TO FUND THE CONSTRUCTION OF THE KORONADAL PUBLIC MARKET BUILDINGS.