Bizman seeks nullification of P150M loan deal with PNB
BACOLOD CITY — Businessman Vladimir Gonzales, who led the signature campaign against the P150 million Loan Agreement by the City Government of Bacolod with the Philippine National Bank for the purchase of a new relocation site, yesterday submitted to the Sangguniang Panglungsod a petition letter endorsed and signed by at least 2,000 Bacolod residents.
Gonzales along with Atty. Jesus V. Hinlo and businessman George Sanchez and some business leaders went yesterday to the Office of SP Secretary Atty. Nilo Alejandrino and personally endorsed the petition calling for the repeal and nullification of the SP resolution authorizing Mayor Evelio Leonardia to enter into the said loan agreement.
Gonzales said that contrary to the claim of Mayor Leonardia, which was the principal basis of the Sangguniang Panglungsod in approving the subject resolutions, there is no urgency to borrow money for the purchase of 11 parcels of land (60 hectares). He said that it would take at least a year or two to develop a small portion of the 60 hectares and to construct road networks, drainage system, electricity system, community facilities, land exemption or conversion, and other pertinent permits required from different government agencies.
Gonzales also questioned the entire legislative process of granting authority for the City Mayor to sign the Loan Agreement which he said was hastily and hurriedly done.
“The entire legislative process from the letter request for authority to sign the loan agreement up to the ratification thereof and of the deed of assignment took only thirteen (13) calendar days. This simply shows haste, imprudence and lack of judiciousness on the part of the SP resulting to the infirmities raised in this Petition,” according to the petitions endorsed.
The petitioners also claimed that the P150 million price for 60.2 hectares or at the cost of P2.489 million per hectare is extremely exorbitant because the land is still in its agricultural raw-land state while even if it is classified as residential.
Gonzales emphasized that the interest on the principal amount after (15) years can amount to more than P91.5 million. Hence, after the end of the terms of the loan, the City would have paid almost double the principal amount for land acquisition.
On the other hand, SP Secretary Atty. Nilo Alejandrino said that the communication submitted by Gonzales to the Sangguniang Panlungsod will be discussed in todays regular session. Alejandrino did not comment as to the action of the Sangguniang Panlungsod pertinent to the said issues.