A notice invoking the power of initiative seeking the repeal of Sangguniang Panlungsod resolutions giving authority to the mayor to negotiate for a loan with two banks for the purchase of a relocation site was filed by businessman Vladimir Gonzalez before the COMELEC in Bacolod City yesterday.
The SP had passed resolutions 873 and 866 that gave Mayor Evelio Leonardia authority to negotiate for a P150 million loan with the Philippine National Bank and another P250 million loan with the Philippine Veterans Bank.
The city officials decided to negotiate with PVB for a P250 million loan after they were informed by the PNB officials that the bank could not release the P150 million loan they had applied for.
Bacolod Rep. Monico Puentevella had earlier admitted that he was responsible for blocking the PNB loan.
Gonzalez, said that since the loan with PNB has not been cancelled, the authorities granted by the SP to the mayor will enable the city to borrow the total amount of P400 million from PNB and PVB to purchase one property.
Vice Mayor Jude Thaddeus Sayson said that depends on one's interpretation.
He said they only applied for a line and it is not possible for the city to get two loans from the banks since this will not coincide with the Bureau of Local Finance clearance which only allows the city a maximum loan of P250 million.
Gonzalez said he invoked the power of initiative since the SP failed to act favorably within 30 days on the petition they had filed against the P250 million loan with the PVB on Dec. 9.
He also said they are also considering a temporary restraining order on the resolution authorizing the mayor to borrow money from PVB.
Bacolod Election registrar Ryan Castro said they will make the necessary evaluation and will forward it to the Office of the Executive Director of COMELEC who will give them the go signal on whether or not to conduct an investigation.
He said the COMELEC requires that the petition be signed by at least 10 percent of the registered voters in Bacolod and in every barangay at least 3 percent of the registered voters.
Meanwhile, Castro said the registration of new voters will be from Dec. 21-23, 28 and 29.
He appealed to the applicants to register as early as possible and to bring all their requirements such as ID's, proof of residence and for 17 to 19 years old, their birth certificate or baptismal.*CGS