The Town Council of Malay is wondering why a loan of P25.6Million
is still needed for the payment of the debt to the contractor which made the
Municipal Sanitary Land Fill.
In the Town Council session held on Tuesday, March 12, the
amount to be borrowed made the Councilmen wonder since allegedly in 2012, P15.255Million
had already been borrowed.
If the two loans are added together, the total will be
more than P40.8Million or P40.855Million to be exact.
According to the Councilmen, the amount to be borrowed
seemed too much since the cost of the project is only more than P38Million.
The Councilmen were also wondering for what the loan will
be, and expressed doubt it will be for the payment of the interest.
Because of these, allegedly, before they will approve the
authorization to be given to the Chief Executive to enter into a negotiation
with a bank to loan again, they will find out first from the concerned
authority what the loan is meant for in their next session.
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