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The San Rafael Water District approved borrowing 26 million pesos from the Land Bank of the Philippines through a term loan. The loan has a term of 15 years including a 1-year grace period on principal. The interest rate will be the prevailing Land Bank rate subject to annual repricing. The loan proceeds will fund water system projects, land acquisition, and equipment purchases. The General Manager was authorized to sign documents to effectuate the loan approval.

Author

Mary Grace Matic

Language

EN