An Ordinance Approving The Schedule of Fair Market Values for The Different Classes of Real Properties Situated In The City of Bago Which Will Be Adopted In The General Revision of Assessments and Property Classification for the Year 2006-2008

May 30, 2005 BAGO CITY ORDINANCE NO. 003-05 AN ORDINANCE APPROVING THE SCHEDULE OF FAIR MARKET VALUES FOR THE DIFFERENT CLASSES OF REAL PROPERTIES SITUATED IN THE CITY OF BAGO WHICH WILL BE ADOPTED IN THE GENERAL REVISION OF ASSESSMENTS AND PROPERTY CLASSIFICATION FOR THE YEAR 2006-2008 Explanatory Note : WHEREAS, submitted by the Assessor's Office for consideration and approval of the Sangguniang Panlungsod of this City, is the Proposed Schedule of Fair Market Values for the different classes of Real Properties situated in the City of Bago which will be adopted in the General Revision of Assessments and Property Classification for the Year 2006-2008 in compliance with Section 212 of the New Local Government Code of 1991; WHEREAS, this body upon the recommendation of the Committee on Landed Estates and Assessments and after a thorough deliberation on the matter, found the same to be reasonable and just and in accordance with the existing laws, decrees, circulars, rules, regulations and guidelines regarding thereto; On motion of SP Member Jorge A. Araneta, duly seconded by SP Member Victor B. Javellana, the Sangguniang Panlungsod. Be it ordained by the Sangguniang Panlungsod of the City of Bago that: SECTION 1. The schedule of Fair Market Values for the different classes of Real Properties situated in the City of Bago which will be adopted in the General Revision of Assessments and Property Classification for the Year 2006-2008 is hereby approved. SECTION 2. This Ordinance shall take effect upon its approval and will be adopted in the Year 2006-2008 as mandated under Section 212 of Local Government Code of 1991. Enacted by the Sangguniang Panlungsod of the City of Bago in its 1263rd Regular Session today, May 30, 2005. Carried by the Vote: Affirmative: SP Members Jorge A. Araneta, Rosario F. Gaudite, Maximo D. Matti, Romeo C. Obando, Nicholas M. Yulo, Victor B. Javellana, Evangeline C. Magallanes, Ramon J. Yulo, Jr.,Andrew Martin Y. Torres. Negative: None. HEITAD CERTIFIED CORRECT: CARLOS E. MONDIA SP Member-Acting Presiding Officer ATTESTED: ATTY. BRIAN N. MARTIR City Secretary [CGDH-I] Approved this 31st day of May 2005 . APPROVED: RAMON D. TORRES Acting City Mayor