IMPOSING A MONTHLY RENTAL FEE OF THE MUNICIPAL LOT USED BY THE RURAL BANK OF MARIBOJOC, INC. IN THE MUNICIPALITY OF MARIBOJOC, BOHOL.
Sponsored by: MASS MOTION
SECTION 1: Definition of Terms-
a) Rental – an amount of rent
b) Fee – A compensation or payment for service rendered a gratuity
SECTION 2: Amount of Monthly Rental Fee.- There shall be an amount of
monthly rental fee to be collected from the Management of the Rural Bank of Maribojoc, Inc. in the following scheme, to wit:
a.) For the first three years – P 1,000.00/month from November, 2004 to
b.) Second Five years – P 2,000.00/month from October, 2007 to
c.) Third five years – P 3,000.00/month from November, 2012 to November, 2017
SECTION 3: Payment of Monthly Rental Fee.- There shall be an amount of P
1,000.00 per month for the 1st three years, the 2nd five years and 3rd five years as reflected in /section 2, B and C to be paid to the Municipal Treasurer’s Office at the end of the month.
SECTION 4: End of Term.- After the end of thirteen (13) years period, the term and conditions of this ordinance shall be renewable for the next number of years and the rental fee will depend on the value of the Philippine currency of the period.
SECTION 5: Repealing Clause.- All ordinances which are inconsistent to the provisions hereof, in part or in whole are hereby repealed, amended or modified accordingly.
SECTION 6: Effectivity.- This ordinance shall take effect in the month of November, 2004.
Approved : October 29, 2004
Let copies be furnished the Sangguniang Panlalawigan of Bohol, for review and approval.
I HEREBY CERTIFY TO THE CORRECTNESS
OF THE ABOVE QUOTED ORDINANCE:
FILOMENA V. ASEDILLA
Presiding Officer-SB Member
ERLINDA V. CASTILON
Acting Secretary to the Sanggunian
PHILIP R. MEDEQUISO
Municipal Vice Mayor
ENGR. GABINO C. REDULLA
Date signed: November 3, 2004