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THE Land Bank of the Philippines agreed to reduce the interest of the Cebu City government’s loan payments of the South Road Properties. LBP granted the request of the city government to reduce the interest from 2…
EVEN with a reenacted budget for this year, Cebu City managed to pay P240.3 million for its South Road Properties (SRP) loan amortization. Cebu City Acting Mayor Margot Osmeña said the amount represents the amortization due last…
SEVERAL items under the revised P9.8 billion annual budget for Cebu City this year are expected to be disapproved by the City Council. The biggest item, the P2.4 billion prepayment of the South Road Properties (SRP) loan,…
The Cebu City government may pay the amortization for the South Road Properties (SRP) loan on Aug. 20, instead of Feb. 20, but will have to pay certain charges. The Feb. 20 payable, around 440 million yen…
Cebu City Mayor Michael Rama would rather have the city government declared in default and sued for payment of the South Road Properties (SRP) loan than bow down to Bando Osmeña-Pundok Kauswagan (BO-PK) councilors. He’s not budging…
Will Cebu City officials set aside politics and together address the P185-million payable on Feb. 20 to avoid paying millions of pesos in penalties? As of yesterday, no resolution was in sight. Cebu City Mayor Michael Rama…
Nine days from now, Cebu City Hall has to pay around P180 million to the Land Bank of the Philippines (LBP) as amortization for the city’s loan on the South Road Properties (SRP). But the problem is…
MANDAUE City Hall can build its own public market without a bank loan, Mandaue City Treasurer Regal Oliva said. Oliva said the funds to build the P400 million public market can be sourced from the city’s funds…
After Dec. 31, debt is P524 million more; City Council still won’t pass special budget Passing up the chance to pay off the loan for the South Road Properties (SRP) by December 31, would mean an…
The Cebu City Council authorized Mayor Michael Rama to negotiate with the Land Bank of the Philippines (LBP) to pre-terminate the South Road Properties (SRP) loan. The city can save over P139 million a year if it…
The Cebu City Council’s nod is needed to pre-terminate the city’s loan balance of P2.4 billion for the South Road Properties (SRP). Jose Daluz III, one of Cebu City Mayor Michael Rama’s consultants, said the council’s concurrence…
Cebu City Mayor Michael Rama said he will request the city council to pass a supplemental budget this year for the full payment of the P3-billion South Road Properties (SRP) loan. Rama said the additional budget will…
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