RESOLUTION AUTHORIZING MRS. ANASTACIA M. AROCHA, MUNICIPAL TREASURER, MARIBOJOC, BOHOL TO CLOSE SUB-TRUST ACCOUNT NO. 0612-1136-53 INTENDED FOR THE MARINE SANCTUARY PROJECT FUNDED BY THE DEPARTMENT OF ENERGY (DOE) AND TRANSFER ITS BALANCE TO THE MUNICIPALITY’S MAIN TRUST FUND ACCOUNT NO. 0612-1012-05 WITHIN THE SAME DEPOSITORY BANK, THE LAND BANK OF THE PHILIPPINES, TAGBILARAN CITY.

Authored by: Hon. Fructuoso F. Redulla, Jr.
Sponsored by: The Committee on Resolutions and Ordinances

WHEREAS, the Department of Energy, by virtue of a Memorandum of Agreement signed by and between the Department of Energy and the Municipal Government of Maribojoc, Bohol, allocated the sum of Two Hundred Forty Thousand One Hundred Twenty One Pesos and Twenty Six Centavos (P240,121.26) as the Local Government’s Share for hosting the Power Barge 101;

WHEREAS, such amount was deposited under Sub-Trust Account No. 0612-1136-53, the sole purpose of which was to fund the establishment, improvement, expansion and the like activities of the Municipality’s Marine Sanctuary Project ;

WHEREAS, the balance of such Sub-Trust Account, after withdrawals were made to fund different activities and development projects relative to the establishment and improvement of existing Marine Sanctuary Projects, has gone below the Allowable Maintaining Balance set by the bank of Eighteen Thousand Nine Hundred Twelve Pesos and Seventy Nine Centavos (P18,912.79 ) and as a consequence thereof, bank charges will then be regularly deducted from the bank balance every month;

WHEREAS, if we will allow the situation to go on, it won’t be long when the balance of our Sub-Trust Account would eventually be all eaten up by the Bank’s Service Charges;

WHEREFORE, BE IT RESOLVED, AS IT IS HEREBY RESOLVED, that authority be granted to Mrs. Anastacia M. Arocha, Municipal Treasurer, Maribojoc, Bohol to close Sub-Trust Account No. 0612-1136-53 intended for the Marine Sanctuary Project funded by the DOE and transfer its balance to the municipality’s main Trust Fund Account No. 0612-1012-05 within the same depository bank, the Land Bank of the Philippines, Tagbilaran City.

RESOLVED FURTHER, that copies of this resolution be furnished the offices of the Hon. Leoncio B. Evasco, Jr., Municipal Mayor; Mrs. Anastacia M. Arocha, Municipal Treasurer, Maribojoc, Bohol and the Land Bank of the Philippines, Tagbilaran Branch, Tagbilaran City for information and appropriate action.

Unanimously adopted.

I HEREBY CERTIFY TO THE CORRECTNESS
OF THE ABOVE QUOTED RESOLUTION:

ERLINDA V. CASTILLON
Acting Secretary to the Sanggunian

ATTESTED:

ENGR. GABINO C. REDULLA
Vice Mayor
Presiding Officer