THE City Council of Cagayan de Oro approved on Monday, December 21, the proposed P7.25-billion annual budget for 2021.
Likewise, the legislative branch approved the P1-billion loan to finance the city's priority projects such as the redevelopment of Bolonsori Memorial Park, completion of the five-story City Library and school building with basement parking, and the completion of Cagayan de Oro City Hospital-Lumbia Annex and Tablon Annex.
City Mayor Oscar Moreno, during the daily press conference on Wednesday, December 22, expressed his gratitude to the city council for approving the proposed 2021 budget as well as the P1-billion loan.
"We have had discussions with the city council on those two things. There were questions lugar sa loan pero I'm sure they understood kay ang ato ganing borrowing capacity, we could borrow as much as P7 billion," Moreno said.
The city mayor also assured that the city can pay for the loan and the reduction of the city's revenues will be recovered.
Moreno further said the major pressing issues of the Bolonsori Memorial Park needs to be addressed in the remaining year and a half of his last term as the mayor of Cagayan de Oro City.
"The others, ang Lumbia hospital and Tablon hospital, and then kini dayong library, plastado na, naa nay schedule ana di lang nato madali-dali, including Puerto market," Moreno said.
"Kini lang Bolonsori ang what I would say nga kinahanglan gyud pangitaan nako og solusyon. Otherwise, lisod kaayo nga ihatag kana nga problema sa sunod nga administration," he added.
The city mayor said if the redevelopment of Bolonsori will not be conducted as soon as possible, the problem in the said memorial park will worsen two years from now.