SP OK's P210M capitol loan to finance business center
ROXAS CITY – Sangguniang Panlalawigan (SP) yesterday approved a resolution authorizing Capiz Gov. Victor Tanco, Sr. to enter into a loan agreement in the amount of P210 million from a banking institution to finance the proposed business center located at Brgy. Tiza this city.
The proposed loan became a subject of heated arguments among members of the SP after Board Member Gilbert Ardivilla consistently opposed the said proposal.
Ardivilla argued that the loan must be scrutinized first by members of the provincial board before having it approved.
Earlier, Ardivilla opposed the said business center since it was proposed during the stint of former Gov. Vicente Bermejo, now city mayor, but was not pursued because of its non-viability.
However, Gov. Victor Tanco, Sr. clarified that the said proposed business center is self-liquidating and is financially viable since it will be opened for rentals of national government offices.
When the division of the house took place, nine board members voted yes, SK Federation President Betina Bayot abstained while Ardivilla voted no.
The loan agreement would be entered into by Gov. Tanco with the United Coconut Planters Bank.