JVR seeking council nod for P387M loan
Talisay City Mayor Johnny De los Reyes is appealing before the city council to approve a request authorizing him on the city's behalf to enter into a proposed P387 million worth of loan intended to finance the construction of the Tabunok public market.
But in yesterday's council session, City Councilor Danilo Caballero sought for the deferment of the request of the mayor as he wanted the city council as a whole to study what action to take relative to the multi-million loan from the bank.
Caballero, chairman of the committee on market, said that the action has to be carefully weighed and that what is most beneficial to the city must be considered.
"We are not against the request of the mayor. Dili lang gyud ta magdali-dali kay dili ra ba ni gamay nga kantidad," Caballero said.
Vice Mayor Romeo Villarante, the council presiding officer, concurred with the observation of Caballero saying that feasibility study and the market design, among others, have to be considered.
Villarante explained that consultants are needed to determine the viability of the city's financial gains with respect to the market's construction and its financing.
"There are many aspects to be looked into. Maka- profit ba ang city if mo- loan ta ani nga amount? Maka- sustain ba ang city pagbayad matag buwan. Unsa man ang traffic diha kung matukod ang market, ang drainage? Kinahanglan ma- create ang committee as a whole aron maka- render sa ilang tagsa-tagsa ka mga report before making a decision," Villarante said.
If the city council gives authority to the mayor to negotiate with any government bank institutions, the city will be paying P5 million a month for a period of 10 years.
For his part, De los Reyes said the project is long overdue.
" Dugay nana nga gipangayo sa katawhan nga ibalik ang merkado sa Tabunok, unya karon ilang babag-babagan," De los Reyes said, adding that the construction of the public market is for all Talisaynons.
He said the new public market will benefit not only vendors but also consumers and drivers.
Currently, there are two banks offering a loan grant of P387 million for the four-storey market's construction, namely the Development Bank of the Philippines and the Land Bank of the Philippines.
This early, De los Reyes prefers DBP since they offer free consultancy and feasibility study and because there are reportedly fewer requirements to be complied with.
"I am hopeful that the councilors will approve the DBP loan to realize the project," the mayor said. He added that the loan would not prejudice the projects and services given to the people.