Sunday, October 22, 2006 Street lights to cost City P890T loan
CEBU City Hall wants to enter into a loan with the Land Bank of the Philippines for the purchase of sodium lamp fixtures to light the streets for the Association of Southeast Asian Nations (Asean) summit in December.
Mayor Tomas Osmeña, in his Oct. 18 letter to Vice Mayor Michael, said the P890,843 worth of fixtures are urgently needed for the summit.
Councilors Edwin Jagmoc and Gerardo Carillo endorsed the mayor’s request through a proposed resolution to the City Council.
Since all fixtures, which will be installed along Osmeña Blvd. from Capitol to Fuente Osmeña, have to be bought from Belgium, the City needs to enter into a letter of credit with the supplier, Comelec.
Comelec is the sole exporter of products from Shreder in Brussels, Belgium.
Imported
It is the local distributor of Shreder seal fittings, ballasts, igniter and caps.
According to a Comelec sales invoice dated Oct. 4, the Cebu City Government will be paying for 13,719 euros through a letter of credit.
The rates exclude the domestic and transmission charges and commitment fees charged by Land Bank against the City.
The City has allocated an initial P6.4 million for the repair of its traffic signs, lights and street railings to get ready for the summit.
For the 117 road signs alone, the City will spend some P900,00 as these will be made of high-intensity grade steel sheets.
A total of P4.56 million will be spent for the geometric improvement and repair of traffic signal facilities. (GAC)
