ORDINANCE NO. 2000-036

AN ORDINANCE AMENDING SECTION 12, CHAPTER 5 OF ORDINANCE NO. 97-114, OTHERWISE KNOWN AS THE 1997 INVESTMENT INCENTIVES CODE OF THE CITY OF NAGA, BY EXTENDING THE PERIOD OF AVAILMENT OF INCENTIVES UNDER SPECIFIC PRIORITY INVESTMENT AREAS FROM YEAR 2000 TO YEAR 2004:-

Sponsor: Hon. Gabriel H. Bordado, Jr.

Be it ordained by the Sangguniang Panlungsod of the City of Naga, that:

SECTION 1. – Section 12, Chapter 5 of Ordinance No. 97-114, otherwise known as the 1997 Investment Incentives Code of the City of Naga, is hereby amended by extending the period of availment of incentives under specific priority investment areas from year 2000 to year 2004, now to read as follows:

“SECTION 12. Incentives for locators in the Panganiban-Roxas Growth Triangle and the South Riverfront Growth Area. Investments in these areas shall enjoy exemption from the payment of business tax and from all non-regulatory fees and charges but only up to Year 2004 regardless of the time of availment of these incentives”.

SECTION 2. This ordinance shall take effect upon its approval.

ENACTED: July 26, 2000

WE HEREBY CERTIFY to the correctness of the foregoing ordinance.

ESTEBAN R. ABONAL

City Vice Mayor & Presiding Officer

J. ANTONIO A. AMPARADO

Secretary to the Sangguniang Panlungsod

APPROVED:

SULPICIO S. ROCO, JR.

City Mayor