AN ORDINANCE granting ten percent (10%) increase in the compensation of all city government officials and employees effective July 1, 2008 pursuant to Executive Order No. 719; and for this purpose, appropriating the sum of P22,400,000.00 from the proceeds of the Internal Revenue Allotment (IRA) Monetization corresponding to the City’s share in the IRA differential for Fiscal Year 2001 and 2004 to be made available to augment the current appropriations for “Personal Services”