AN ORDINANCE AUTHORIZING THE CITY TREASURER, THIS CITY, TO OPEN A LETTER OF CREDIT WITH THE LAND BANK OF THE PHILIPPINES IN CONNECTION WITH THE CITY'S DESIRE TO PURCHASE HEAVY EQUIPMENTS IN THE SUM OF EIGHT MILLION THREE HUNDRED FORTY SEVEN THOUSAND NINE HUNDRED NINETY SEVEN PESOS AND SEVENTY EIGHT CENTAVOS (P 8,347,997.78)