LUBANG ELECTRIC COOPERATIYE, INC.

(LUBELCO)
Bagubag, Vigo, Luban& Occidental Mindoro

MINUTES OF REGUTAR MEETING OF THE LUBELCO BOARD OF DIRECTORS HELD TAST DECEMBER 14
2015 AT LUBELCO BOARD ROOM, BAGUBAG, VIGO, LUBANG, OCCIDENTAL MINDORO

PRESENT Leonor V. Baluran President

Aladino B. Pademal, Jr. Secretary
Reymundo A. Villa Treasurer
Precila T. Balibay Ex-Officio Member/General Manager

ALsO PREENT Engr. Leo G. Cinco Plant Head-LDPP

Marcial N. Bertos MSEAC Chairman

AESE T Benito M. Tovillo, Jr. Vice-President

RESOLUnON NO.60
Series of 2015

RESOIUNO'{ REQUESNITG FOR A COMMODITY LOAN EXCTUDING II{TEREST AND OI}IER CHARGES
FROM REFC AMOUilNilG TO PhP2,1'T3,173.fl) FOR PURCHASE OF 1 UNIT U EMAN,S UNUTY VEHICIE
AND ISUZU D-MA( 4X2 PrCX-t P

WHEREAS, the LUBELCO endeavours to improve its services especially to our member
consumers;

WHEREAS, there are no internally generated funds for the purpose hence it has b€en a
consensus to request the REFC to extend a commodity loan to LUBEL
CO in the amount of PhP2,143,173.0O for the aforesaid purpose;

THEREFORE
'{OW
ON MOflON of Director Padernal duly seconded by Director Villa, BE lT RESOwED AS IT lS
HEREBY RESOLVED to request for a commodity loan excluding interest and other charges from REFC
amounting to PhP2,143,173.m for purchase of 1 unit lineman's utility vehicle and lsuzu DMax 4x2 pick-
up.

RESOwED FURTHER that copy of this resolution be furnished the National Electrification
Administration (NEA) for information and approval.

UNANIMOUSTY APPROVED.

hz.^6A.2/
,1

AI,AI'I1{O B. PAX'ER]{AI.JR.
-*+l
nevr/r/noo vru.e
Secretary ,/ TreaSuYer

OR V. BATURAN
Chairman