THE Bureau of Local Government Finance (BLGF) said it issued seven certificates covering P5.642 billion in proposed borrowing by local government units (LGUs).
In its report for September, the BLGF certified the LGUs as having sufficient net debt service ceilings and borrowing capacity, of which four were amendments. The certified entities were four municipalities, two cities, and one barangay.
The largest borrowing proposal was by Pasay City for P5 billion, for the construction, expansion, completion, furnishing, equipping and operationalization of the new campus and multi-storey school building of the City University of Pasay.
The project also includes the Pasay City’s government offices and commercial spaces, as well as other project components authorized under the borrowing ordinance.
The municipality of Dolores, Eastern Samar proposed to take on P463.1 million worth of debt to build a municipal water supply system serving around 7,000 households.
The proposal also covered the construction of a two-storey Dolores Public Market Building and the procurement of brand-new locally sourced eco-waste recycling technology.
Meanwhile, the municipality of Patnongon, Antique proposed to borrow P47 million to improve commercial buildings at its two-storey public market and to procure a wheeled excavator and dump truck. — Justine Irish D. Tabile