Leonardia, Sayson defend loan

BACOLOD City Mayor Evelio Leonardia and Vice Mayor Jude Thaddeus Sayson defended the loan availed by the City Government in its various projects.

Their actions came following the statement made by mayoralty candidate Monico Puentevella that their party will inherit P1.4 billion loans once elected into office.

Leonardia said the loan of the city is much lesser by now, than the P1.4 billion being claimed by Puentevella.

Puentevella said that in case their group should win the elections, they will inherit a P1.4-billion loan that will be left by the present administration.

He said there are other local government units even in Negros that have loans bigger than that of Bacolod.

Since a local government unit can borrow only as much as what is allowed, he said the last time they availed of a loan, the Department of Finance informed them that Bacolod is qualified to loan as much as P890 million and yet, they only got P250 million at that time.

Vice Mayor Jude Thaddeus Sayson said the loan availed of by the city is a diminishing balance, which means the balance and computation of the interest reduces every time they make payments.

He said they have availed of P400 million for the government center which they have started to pay for the last two to three years, P250 million for the relocation site and P40 million for the dumpsite or a total of about P690 million.

Sayson said they have started to pay their loans and that their outstanding balance could be between P500 million and P600 million by now.

“So it is a lie if Puentevella claims that the City has a balance of P1.4 billion,” he said, adding that his computation could be wrong.

Sayson said Puentevella now says he will hold office at the government center if he wins. But he recalled that during the last elections, Puentevella said he will not sit at the government center.

Sayson said, however, that they are working to continue the gains established by the present administration dominated by the Grupo Progreso of which he has been a part of for so many years.

"Through the leadership of the mayor, we have seen how Bacolod is progressing," he said.

Putting in somebody new will have a negative effect, as it will disrupt the momentum of the progress of one of the topnotch cities in the country, he added.

Sayson also said they are still negotiating with the businessmen in Bacolod regarding the new tax code, in reaction to the statement of Puentevella that they will review and repeal the code if ever they will be elected.

He said the Metro Bacolod Chamber of Commerce and Industry headed by Frank Carbon has set a tentative meeting with the city on October 17.

"We are still negotiating with our business partners for possible amendments of the new tax code," Sayson said.