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\, EPUBLIKA NG PILIPINAS I

MINISTRI NG PANANALAPI MAYN I LA

OFFICE OF LOCAL GOVERNMENT FINANCE DEPARTMENT ORDER NO.

March 24, 1987

/.-

SUBJECT:

RECLASSIFICATION OF THE MUNICIPALITY OF VALENCIA IN THE PROVINCE OF BUKIDNON EFFECTIVE JULY 1, 1986, IN ACCORDANCE WITH THE PROVISIONS OF PRESIDENTIAL DECREE NO. 465.

TO

The Regional Director for Local Government Finance, Region X, the Provincial Governor, the Sangguniang Panlalawigan, the Provincial Treasurer and the Provincial Assessor of Bukidnon, the Municipal Mayor, the Sangguniang Bayan and the Municipal Treasurer of Valencia and Others Concerned.

:

Pursuant to Section 5 of Presidential Decree No. 465, the municipality of Valencia in the province of Bukidnon is hereby reclassified from Second Class to First Class, effective July is 1986, on the basis of its average annual income of $2,523,614.90 actually realized during the last four (4) consecutive calendar years (1982-1985), as certified by the Commission on Audit under its 1st Indorsement dated March 24, 1987'. Furthermore, pursuant to Section 6 of the aforementioned Presidential Decree, the municipality of Valencia is hereby sub-classified as First Class-C, effective July 1, 1986, on the basis of the average annual income of $2,698,496.66 actually realized during the last two (2) consecutive calendar years (1984-1985), as certified also by the said Commission. The foregoing classification and sub-classification of the said municipality shall be the basis for determining the maximum amounts expendable for salaries and wages, representation allowances, administrative aids and other statutory contributions in the adoption of the annual budgets, as well as the maximum salary rates of local government officials and employees in accordance with existing law and regulations. By authority of the Secretary:

L LORINDA . CARLOS Dir for oa

ISANG BANSA, ISANG DIWA, (SANG WIKA

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