An Ordinance Granting Tax Exemptions To Plaza Arcade As Provided For Under Section 192 Of R.A. 7160

June 7, 2006 BAGO CITY ORDINANCE NO. 010-06 AN ORDINANCE GRANTING TAX EXEMPTIONS TO PLAZA ARCADE AS PROVIDED FOR UNDER SECTION 192 OF R.A. 7160 AND AS ENCOURAGED UNDER ORDINANCE NO. 6, SERIES OF 2002 Explanatory Note : WHEREAS, in her letter dated April 25, 2006, Atty. Ramon C. Gonzaga, Jr., owner of Plaza Arcade appealed for privileges and benefits granted under Ordinance No. 6, Series of 2002, otherwise known as the Bago City Investment Incentive Code of 2002; WHEREAS, Section 192 of R.A. 7160, otherwise known as the Local Government Code of 1991, provides that, "Local Government Units may through ordinance duly approved, grant tax exemptions, incentives or relief's under such terms and conditions as they may deem necessary." On motion of Sanggunian Member Nicholas M. Yulo, jointly seconded by Sanggunian Members Maximo D. Matti, Alberto Y. Hidalgo, Evangeline C. Magallanes, the Sanggunian; Be it enacted by the Sangguniang Panlungsod of the City of Bago, that: SECTION 1. The granting of tax exemptions to Plaza Arcade as provided for under Section 192 of R.A. 7160 and as encouraged under Ordinance No. 6, Series of 2002 is hereby approved. SECTION 2. This Ordinance shall take effect upon its approval. Enacted by the Sangguniang Panlungsod of the City of Bago in its 1314th Regular Session today, June 7, 2006. CARRIED BY THE VOTE OF: Affirmative: SP Members Carlos E. Mondia, Jorge A. Araneta, Rosario F. Gaudite, Maximo D. Matti, Serafin Z. Jara, Romeo C. Obando, Alberto Y. Hidalgo, Nicholas M. Yulo, Victor B. Javellana, Evangeline C. Magallanes. Negative: None ATICcS CERTIFIED TRUE AND CORRECT: ATTY. BRIAN N. MARTIR City Secretary (CGDH-I) ATTESTED: RAMON D. TORRES City Vice-Mayor-Presiding Officer Approved this 16th day of June 2006. APPROVED: JANET E. TORRES City Mayor