Lasting tribute of Rama to Labella: Completion of 21 gun salute projects before June 30

Delta Dyrecka Letigio 05/12/2022

CEBU CITY, Philippines — While finally getting a fresh mandate from the public in the recent elections, Cebu City Mayor Michael Rama has not forgotten his running mate and partner in the 2019 elections, the late Mayor…

Cebu City Council passes P1.6B supplemental budget

Delta Dyrecka Letigio 03/03/2022

CEBU CITY, Philippines — The Cebu City Council managed to pass the P1.6 billion Supplemental Budget No.1 on a divided house. The council passed on Wednesday evening, March 2, 2022, the SB 1 that contains appropriations for…

Rama seeks P1.6B for supplemental budget; largest allocation goes to SRP loan

Delta Dyrecka Letigio 02/28/2022

CEBU CITY, Philippines — Cebu City may finally be debt-free by August 2022 if the Cebu City Council passes Supplemental Budget No. 1 (SB 1) on the next regular session. The budget and finance committee has completed…

Osmeña: Paying SRP loan is not justification for squandering city funds

Delta Dyrecka Letigio 12/08/2021

CEBU CITY, Philippines — Former Cebu City Mayor Tomas Osmeña took a jab at the plans of incumbent Mayor Michael Rama on paying in full the remaining balance of the South Road Properties (SRP) loan. The city…

Cebu City will soon be debt-free, SRP proceeds almost used up

Delta Dyrecka Letigio 06/05/2021

  CEBU CITY, Philippines — Cebu City will finally be free from over a 25-year debt should the P4.4 billion supplemental budget that Mayor Edgardo Labella is asking will be passed by the City Council. Councilor Raymond…

Garcia assures SRP loan will be paid within Labella’s term

Delta Dyrecka Letigio 12/23/2020

CEBU CITY, Philippines — Cebu City Councilor Raymond Alvin Garcia, the chairperson of the City Council’s committee on budget and finance, said the city is close to paying off the P4.65 billion loan the city incurred in…

Landbank seeks payment of P200M SRP loan

Morexette B. Erram 08/21/2018

The Land Bank of the Philippines (LBP) has asked the Cebu City government to pay around P200 million or roughly 392 million Japanese yen as part of its loan for the reclamation of the South Road Properties…

City Council committee tackles SB 1, suggests city pay SRP loan in full instead

Nestle L. Semilla 08/12/2016

THE proposed Supplemental Budget 1 (SB1) asking for an additional P13 million for the SRP loan payment which will be due this August 20 will likely be approved during this Tuesday’s City Council’s regular session. Councilor Joy…

Village execs back SRP lot sales

Jose Santino S. Bunachita 08/27/2014

Top officers of the Barangay Councilors League of the Philippines (BCLP) in Cebu City are supporting the sale of lots in the South Road Properties (SRP). In a news conference yesterday, BCLP officers led by its president…

SRP loan too heavy

Jose Santino S. Bunachita 08/22/2014

Is the loan payment for the South Road Properties (SRP) too heavy to bear? At P500 million to P550 million a year, it’s a burden that requires special action for Cebu City, such as changing the currency…

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