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Debt free: Mayor Dino Chua pays off P3.6M loan of Novoleta

Apr 7, 2019 @ 7:43

NOVELETA, Cavite — The local government here welcomed year 2019 on a high note as it became a debt-free LGU of Cavite for 2019.

Maria Lynda Colina, Noveleta Municipal Treasurer, said a total of P3,525,765.85 in loans, plus P128,038.42 in interest in total of P3,653,804.27 was incurred under the previous administration which Mayor Dino Reyes Chua’s administration fully paid as of September 2017,

The Office of Municipal Accountant also certified that the Noveleta local government unit (LGU) has no outstanding loan to any lending or financial institution as of first quarter of the year 2019.

According to the transaction slip of the LGU, Noveleta has PHP4,810,552.91 Special Education Funds on bank and PHP24,666,330.67 General Funds and PHP13,256,566.05 on Trust fund or a total of PHP42,733,449.63 certified by Land Bank of the Philippines.

“We want a clean slate for 2019 and we are happy to announce that Noveleta is now a ‘debt-free municipality” Chua said in an interview on Saturday.

Chua is recently awarded as Most Outstanding Mayor of Super Brand International.

Under his leadership, the locality was awarded as top performing LGU in health governance in Calabarzon. It is also one of the Top 5 Performing LGU in Anti-Drugs Programs.

The Department of Trade and Industry (DTI) recently named Noveleta as the top LGU with the most number of businesses in the province. (PNA)

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