Power Firm for Auction Sale

Iligan City – The city government is offering for sale all properties of the Northern Mindanao Power Corporation amounting to some P3 million in a public auction on Friday, next week, a City Councilor here said.

Voltaire Rovira, chair of the city’s committee on tax collection, said the auction will be held at the city council’s session hall on Oct. 10 at 10:00 o’clock in the morning.

He said the city government forfeited and acquired the company’s assets on April 5, 2007 pursuant to tax delinquency auction sale held on the same day.

The company’s properties and machineries are all located in Dalipuga, this city where taxes due for building and machineries were P393 million with incidental expenses totaling P73,000.

Rovira said the company also owned various lots under 11 tax declarations, namely: TDnos.02-009-00065 to 73; 02-009-03531 and 02-009-03702 with a total assessed value of P 2.8 million.

He said the pre-bid conference was held at 10:00 o’clock in the morning on Friday last week at city council’s session attended by prospective bidders.

According to Rovira, the city government is authorized to conduct the auction notice in accordance with the Local Govt. Code of 1991 and the City Ordinance no. 07-5155.

The local government code and the city ordinance provide the ownership of properties delinquent on their taxes shall ‘automatically’ transfer to the local government unit claiming payment of taxes due them, Rovira added.

The National Power Corporation (Napocor) then owns the northern Mindanao Power Corporation. Business Editor: Cris Diaz /Gold Star Daily

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