AN ORDINANCE authorizing the City Treasurer to apply as tax credit or payment of taxes due to Limketkai and Sons, Inc. for a period of three years the amount of P27,587,326.73 as just compensation for the acquisition of the lot (P17,974,600) and structures (P1,612,726.73) affected by the proposed extension of the four-lane Limketkai Avenue up to JR Borja Street and FOR the concreting of the said Road with provisions of sidewalk, drainage and streetlamps based on engineering plans and cost estimates approved by the City Engineer including related expenses (P8 Million); and for this purpose, authorizing the Honorable City Mayor to enter into and sign the Memorandum of Agreement therefor; and repealing Ordinance No. 12316-2012