AN ORDINANCE CONFIRMING, RATIFYING AND/OR APPROVING THE MEMORANDUM OF AGREEMENT ENTERED INTO BY AND BETWEEN THE CITY GOVERNMENT OF CAGAYAN DE ORO, REPRESENTED BY CITY MAYOR VICENTE Y. EMANO, AND THE SM PRIME HOLDINGS, INC., REPRESENTED BY ITS PRESIDENT, MR. HANS T. SY, COVERING THE OFFER OF THE LATTER TO ADVANCE THE AMOUNT OF P14,800,000.00 FOR THE IMPROVEMENT (ASPHALTING) OF THE LANDFILL-SM ROAD, WHICH SHALL BE PAID AND LIQUIDATED BY THE CITY BY APPLYING THE SAME AS TAX CREDIT IN FAVOR OF THE REALTY PROPERTY TAX OF THE SAID COMPANY STARTING YEAR 2006 UP TO 2008 INCLUSIVE; AND FOR THIS PURPOSE, REPEALING ORDINANCE NO. 9573-2005