ORDINANCE AMENDING ORDINANCE NO. 108 SERIES OF 2002 ENTITLED ORDINANCE ADOPTING THE MARIKINA CITY DRESS CODE IN PUBLIC PLACES 2002

ORDINANCE NO 72 Series of2002 MORTGAGE AND FINANCING CORPORATION AND RECISTERED I,']\IDER TCT NO. 93505 IN THE NAME OF TIIE PHILIPPINE VETERANS BANK by: Introduced Councilor EFREN S DE GUZMAN WHEREAS, there is a certain parcel of land located at No. 14 Sanchez S1., parang, Marikina City registered under TCT No. 93505 in the name of the philippine Veterans Bank and covered by the Community Mortgage Plogram implemeoted by the National Hom€ Mortgage nnd Financing Corporation; WHEREAS, on March 18, 2002 a Memorandum of Agre€ment for the purchase and conveyance of the said prop€rty was executed by and among the City Govemment of Marikila represented by its City Mayor, the Ho orable Ma. Lourdes C. Fernando, the Philippi[e Veterarts Bank ard the Sarchez Village Homeowners Association, Inc., WHEREAS, the City Government deems it just and apFop.iate to exempt the philippine Veterans Bank from payment of real property tax€s in cognizance of the generosity-and benevolence e{ended to the lardless p€ople of Marikina; WHEREAS, this authority to grant tar a mesty is sanctioned by Section 192 ofthe Looal Govemment Code 2001, stating that: " x x x Local govemment units may, though ordinances duly approve4 grant tax exemptior\ incentives or relieves under such terms and conditions as they may deem nec€ssary x x x" ard reiterated in Section 458 sub-paragraph (ii) ofparagraph 2(a), quoted as follows: 'A x x Subject to the provisions ofBook tr of this Code and applicable laws ard upon majority vote of a1l the membem of the Sangguniang Panlungsod, enact ordinancer x x x gmr$ing tax exemptions, incentives or reliefx x x". NOW TIIEREFORE, BE IT ORDAINED AS IT IS HEREBy ORDAINED by the SANCTGUMANG PANLIINGSOD of MANKINA in session duly assembled, that: L SECTION The City Governmert of Marikiru hereby exempts the philippine Velerans Bank from payment ofreal property tax./ ORDINANCE NO. 72 ol Series 2ooz Page 2 of I sEcTloN 2. The tax exemption mentioned in Section shall cover obligations due for CY 2002. SECTION 3. This Ordinance shall take efect upon its approval. I hereby certi$ to the passage of the foregoirg ORDINANCE, which was duly approved by lhe City council of Marikina duiog its 25' Regular Sesiion held on the l0d day ofJuly 2002. LOLITA E. DE LEON Seqetary to the Sanggunian GEN.TIFIED AND ATTESTED ON g. ANDRES, M,D, Vic€ Mayor/ Presiding Ofrc€r n AUE 2002 APPROVED by the Hon. CITY MAYOR on +^Mlr 1il";1" MA LOTJRDES C. FERNANDO city ruayorfr'