ORDINANCE AUTHORIZING THE MUNICIPAL MAYOR, REPRESENTING THE MUNICIPALITY OF BAYAMBANG, TO SIGN A DEED OF WAIVER AND ASSIGNMENT OF RIGHTS DISCHARGING THE LGU GUARANTEE CORPORATION (LGUGC) – DUE TO ITS DISSOLUTION – AS GUARANTOR OF THE LOAN OF THE MUNICIPAL GOVERNMENT FROM EASTWEST BANKING CORPORATION UNDER THE GUARANTEE AGREEMENT AND THE COLLATERAL AGREEMENTS IN CONSIDERATION OF THE ASSUMPTION AND CARRYING THE FULL RISK BY EASTWEST BANK OVER THE LOANS UNTIL FULL PAYMENT THEREOF. FURTHER, GIVING AUTHORITY TO LGU BAYAMBANG TO STILL CONTINUE WITH THE BORROWINGS AND RATIFYING THE AUTHORITY OF MUNICIPAL MAYOR TO SIGN ALL DOCUMENTS PERTAINING TO THE LOAN
