5th Sangguniang Panlungsod (30 June 1995 – 30 June 1998)

Summary/Additional Info:

Summary: This ordinance grants Isarog Gaming Corporation a five-year franchise, renewable once, to operate a Bingo Hall exclusively within the ALDP Commercial Complex on Diversion Road, Naga City. The corporation must secure a Mayor’s Permit and pay an annual franchise fee equal to 0.5% of its gross revenue, split equally between the City Mayor’s and Sangguniang Panlungsod’s Special Activities Funds for local projects. Any fee increases need prior council approval, and non-compliance can cancel the franchise. This ordinance repeals Ordinance No. 98-048 and took effect upon approval.