AN ORDINANCE AUTHORIZING THE SALE OF THE 5,881 SQUARE METER PORTION OF THE 11,382 SQUARE METER PROPERTY OF THE CITY GOVERNMENT OF NAGA LOCATED IN BARANGAY DEL ROSARIO, NAGA CITY AT THE SUBSIDIZED RATE OF P350.00/SQUARE METER IN ORDER TO MAKE THE SAME AFFORDABLE TO THE ONE HUNDRED FORTY THREE (143) INTENDED BENEFICIARY-EMPLOYEES OF THE NAGA CITY EMPLOYEES HOUSING PROJECT PHASE 2, THEREBY GRANTING SUBSIDY ON COST OF LAND IN THE AMOUNT OF Php 1,250.00/SQ.M. OR APPROXIMATELY Php 50,000.00 PER BENEFICIARY EMPLOYEE OR A TOTAL AMOUNT OF Php 7,361,847.56 FOR THE ENTIRE PROJECT