Ordinance 13793-2020

AN ORDINANCE AUTHORIZING THE CITY TREASURER TO OPEN FOUR (4) TRUST FUND ACCOUNTS AT THE LAND BANK OF THE PHILIPPINES (LBP)-CAPISTRANO BRANCH AS REQUIREMENT FOR THE DOWNLOADING OF THE REMITTANCES BY THE MINDANAO ENERGY SYSTEMS (MINERGY), INC. TO THE CITY GOVERNMENT OF CAGAYAN DE ORO, REPRESENTING THE SHARE FOR FINANCIAL BENEFITS OF ONE CENTAVO PER KILOWATT-HOUR (P0.01/KWH) OF ITS TOTAL ELECTRICITY SALES, PURSUANT TO DEPARTMENT OF ENERGY (DOE) CIRCULAR NO. DC2018-08-0021, RULE 29 (A) OF THE IMPLEMENTING RULES AND REGULATIONS OF REPUBLIC ACT NO. 9136, ALSO KNOWN AS THE "ELECTRIC POWER INDUSTRY REFORM ACT OF 2001"

LGU: Cagayan de Oro City (City)
Topic: Finance, Budget and Appropriations
Committee: Finance, Budget & Appropriations [2019-2022]
Status: Approved
Filed: January 20, 2020

Summary

trust fund, minergy, land bank

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