City to seek loan for Big Bug access road

DETERMINED not to be held hostage anymore by illegal road closures, the 9th Sangguniang Panlungsod (SP) in their session last Wednesday approved a resolution authorizing City Mayor Dan Lim to negotiate for a loan to buy lots for the road networks leading to its mulled Big Bug.

The move puts the city government in a pro-active stand, evading from a trap that has put the city government hostage over road networks it opened in the past that have not been paid. At least two owners have reclaimed these roads, putting up temporary roadblocks to stop the people from using the unpaid roads.

With the development, the SP has allowed Mayor Lim to deal with the Development Bank of the Philippines and other banks for a loan. The city government thought of borrowing money for the access road network leading to the proposed site of the Big Bug, the giant Tagbilaran City Sports Center.

The SP was more open to allow Mayor Lim to contract for P500M. According to Vice Mayor Nuevas Tirol-Montes, the city government can only borrow up to P150M if it plans to amortize using its income, but with the city government assets, DBP was more lenient to the P500M. City Councilor Danilo Bantugan told the Post that what ever be the amount of the negotiation, the Mayor will again consult the Sangguniang Panlungsod for the approval of the loan amount intended by the city government.

Vice Mayor Montes, being the chairman of the Committee on Appropriation sponsored the said resolution. Meanwhile, next week a fleet of heavy equipment will start work on the proposed project.

The heavy equipment rented by the city government will initially open the road networks using the P30M proceeds of the first loan made by the city government. Mayor Lim has ordered for the immediate relocation of the squatters staying in lots owned by the city government. According to City Planning Coordinator Officer Ed Macalandag, about 26 families are staying in the lots owned by the city. The Tagbilaran City Sports Center will be constructed near the Integrated Bus Terminal and Island City Mall.

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