Bureau of Local Government Finance Opinion

October 16, 2000 BUREAU OF LOCAL GOVERNMENT FINANCE OPINION 2nd Indorsement Respectfully returned to the Regional Director for Local Government Finance, Region VII, 3rd Floor, B.F. Building, N. Escario Street, Cebu City, the within preceding 1st Indorsement, relative to the letter of the City Assessor of Cebu City dated February 10, 2000, regarding the request of the Comptroller, Visayan Electric Company, Inc. (VECO), for exemption from the payment of real property tax. In this regard, attached is a copy of the Temporary Restraining Order (TRO) adopted thru a Resolution by the Supreme Court under G.R. No. 143076 in the case entitled "Philippine Rural Electric Cooperatives Association, Inc. (PHILRECA), Agusan del Norte Electric Cooperative, Inc. (ANECO), Iloilo I Electric Cooperative, Inc. (ILECO I), and Isabela I Electric Cooperative, Inc. (ISELCO I) vs. The Secretary, The Department of the Interior and Local Government (DILG), and the Secretary, Department of Finance (DOF), restraining the implementation of Sections 193 and 234 of R.A. No. 7160. In view of the TRO issued by the Supreme Court, ordering the respondent DOF to Cease and Desist from implementing the questioned provisions of Sections 193 and 234 of the Local Government Code of 1991 (R.A. No. 7160); and the pending appeal of VECO before the Local Board of Assessment Appeals (LBAA) of Cebu City, this Bureau, momentarily, cannot act on the subject request. TIAEac Be guided accordingly. (SGD.) BENJAMIN A. GERONIMO Executive Director