The Revised Investment Incentives Code of the City of Iligan

February 26, 2006Regular Session Held on February 26, 2006.PRESENT:     Hon. Henry C. Dy,City Vice Mayor, Presiding Officer Hon. Providencio P. Abragan, Sr.,Member Hon. Vicente F. Belmonte, Jr.,Member Hon. Chonilo O. Ruiz,Member Hon. Alfredo R. Busico,Member Hon. Moises G. Dalisay, Jr.,Member Hon. Ruderic C. Marzo,Member Hon. Bienvenido V. Badelles,Member Hon. Orlando M. Maglinao,Member Hon. Wilfredo R. Bacareza,Member Hon. Voltaire I. Rovira,Member Hon. Bernard Y. Pacaña,Member Hon. Hannah M. Quijano, *Member  ABSENT:      (NONE)  RESOLUTION NO. 06-192WHEREAS, on December 2, 1996, the Sangguniang Panlungsod passed and approved City Ordinance No. 2916, s. 1996, otherwise known as the "Iligan City Investment Incentives and Promotions Code of 1996", stipulating the incentives that can be availed of by new business ventures and expansion of existing business enterprises, within the jurisdiction of the City; WHEREAS, the enactment of the City Ordinance No. 2916, offering fiscal incentives coupled with an aggressive marketing program, resulted in approximately P700 Million worth of new investments made by eleven (11) companies that registered and availed of the incentives;WHEREAS, years after the passage of said ordinance, the investments...