2013 R - 04 - PROCURING OF LIFE INSURANCE FOR MEMBERS IN LIEU OF DAMAYAN FUND

Excerpts from the Minutes of the Special Meeting of the Board of Directors of the Olongapo City Government Employees Multi-Purpose Cooperative (OCGEMPC) Held on 13 February 2013 at the OCGEMPC Training Room

Resolution No. 2013-04

PROCURING OF LIFE INSURANCE FOR MEMBERS IN LIEU OF DAMAYAN FUND

WHEREAS, the Damayan Fund had helped financially the Coop members who met their untimely death by giving Thirty Thousand pesos to their family;

WHEREAS, the Damayan Fund had abolished by the Cooperative Development Authority (CDA) as a life insurance and declaring it as illegal;

WHEREAS, under Article VIII Section 1. on Primary Consideration of OCGEMPC operation states that “Adhering to the principle of service over and above profit, the Cooperative shall endeavor to c. Formulate and implement studies and/or programs that will address the needs of members”;

WHEREAS, it is empirical to have a life insurance to be given to the family of the departed member/s to address their immediate needs during the wake and or to settle accounts; 

NOW THEREFORE, upon motion duly made and seconded, the Board of Directors of the Olongapo City Government Employees Multi-Purpose Cooperative in meeting assembled do hereby:

RESOLVE, AS IT IS HEREBY RESOLVED to procure as it is herby procured a life insurance for members with an equivalent amount in lieu of Damayan Fund;

RESOLVED FURTHER, that the OCGEMPC Treasurer to authorize, as she is hereby authorized to release the said funds for the afore-mentioned purpose.

RESOLVED FURTHER, that the outstanding amount of Thirty-six Thousand Pesos intended for Damayan Fund to transfer, as it is hereby transferred to Special Membership Operation Fund to be used as backup while waiting for the release of the fund from the insurance company.

Done this 23^rd  day of January 2013 at Olongapo City, Philippines.

2013 R - 01 - APPROPRIATING THE AMOUNT OF ONE HUNDRED TWENTY-FIVE THOUSAND PESOS (P125,000.00) FOR FOOD AND ONE HUNDRED SEVENTY-FIVE THOUSAND PESOS (175,000.00) FOR GIVE-AWAY SOUVENIRS AND OTHER MISCELLANEOUS EXPENSES FOR THE 2013 ANNUAL GENERAL ASSEMBLY

Excerpts from the Minutes of the Regular Meeting of the Board of Directors of the Olongapo City Government Employees Multi-Purpose Cooperative (OCGEMPC) Held on 23 January 2013 at the OCGEMPC Training Room

Resolution No. 2013-01

APPROPRIATING THE AMOUNT OF ONE HUNDRED TWENTY-FIVE THOUSAND PESOS (P125,000.00) FOR FOOD AND ONE HUNDRED SEVENTY-FIVE THOUSAND PESOS (175,000.00) FOR GIVE-AWAY SOUVENIRS AND OTHER MISCELLANEOUS EXPENSES FOR THE 2013 ANNUAL GENERAL ASSEMBLY

WHEREAS, funding is required to defray the expenses to be incurred for Annual General Assembly Meeting of the OCGEMPC which shall be held on 12 April 2013 at the Olongapo City Convention Center;

WHEREAS, expenses for the General Assembly Meeting include One Hundred Twenty-five Thousand Pesos (P125,000.00) for food and One Hundred Seventy-five Thousand Pesos (175,000.00) for give-away souvenirs and other miscellaneous expenses. 

NOW THEREFORE, upon motion duly made and seconded, the Board of Directors of the Olongapo City Government Employees Multi-Purpose Cooperative in meeting assembled do hereby:

RESOLVE, AS IT IS HEREBY RESOLVED to appropriate, as it is hereby appropriates from the general operating funds of the OCGEMPC the amount of One Hundred Twenty-five Thousand Pesos (P125,000.00) for food and One Hundred Seventy-five Thousand Pesos (175,000.00) for give-away souvenirs and other miscellaneous expenses for a total amount of THREE HUNDRED THOUSAND PESOS (₱ 300,000.00)  for the conduct of the 2013 Annual General Assembly meeting;

RESOLVED FURTHER, that the OCGEMPC Treasurer be, as she is hereby authorized to release the said funds for the afore-mentioned purpose.

Done this 23^rd  day of January 2013 at Olongapo City, Philippines.

7th General Assembly

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ANNOUNCEMENT: FOOD CATERING

BIDDING FOR FOOD CATERING (500 PAX) FOR OCGEMPC GENERAL ASSEMBLY ON APRIL 9, 2012 @ OLONGAPO CITY CONVENTION CENTER.

Budget: 200 - 250 / pax

inclusive of:

* AM snack with overflowing Coffee and Iced Tea

* Lunch with overflowing Iced Tea

* PM snack with overflowing Coffee and Iced Tea

Submit letter of intent and proposal on or before March 2, 2012, at OCGEMPC Office @ 3rd Flr. City Hall Annex, Olongapo City.

for inquiries you may call Ms. Noreen Maagma @ 047 222 2661 / 222 5401 local 4168 or Ms. Monette Aranilla @ 047 224 2370

2011 R - 044 - AUTHORIZING THE CHAIRMAN AND TREASURER TO OPEN A NEW ACCOUNT WITH THE PHILIPPINE NATIONAL BANK AND DEPOSIT ₱ 1,010,000.00 THERETO

Excerpts from the Minutes of the Regular Meeting of the Board of Directors of the Olongapo City Government Employees Multi-Purpose Cooperative (OCGEMPC) Held on 26 October 2011 at the CHD Conference Room

Resolution No. 2011-044 - AUTHORIZING THE CHAIRMAN AND TREASURER TO OPEN A NEW ACCOUNT WITH THE PHILIPPINE NATIONAL BANK AND DEPOSIT ONE MILLION TEN THOUSAND PESOS (₱ 1,010,000.00) THERETO

WHEREAS, Philippine National Bank (PNB), one of the leading banks in the country, is offering a Long Term Negotiable Certificate of Deposit (LTNCD) with an interest rate of 5.25% per annum for a period of five years;

WHEREAS, OCGEMPC has reserved funds deposited in Planters Bank and the OCGEMPC Board finds it more beneficial to the coop if the said fund will be deposited to PNB to avail of the said LTNCD;

NOW THEREFORE, upon motion duly made and seconded, the Board of Director of the OCGEMPC in session assembled do hereby:

RESOLVE AS IT IS HEREBY RESOLVED to authorize, as it hereby authorizes the Chairman and Treasurer to withdraw One Million Ten Thousand Pesos (₱ 1,010,000.00) from Planters Bank and invest One Million Pesos (₱ 1,000,000.00) to Long Term Negotiable Certificate of Deposit (LTNCD)

RESOLVED FURTHER, to authorize, as it is hereby authorizes the Chairman and the Treasurer to open a new savings account with the Philippine National Bank (PNB) and deposit the (₱ 10,000.00) to the said new PNB savings account

RESOLVED FURTHERMORE, that interests earned from the said investment shall be deposited to the PNB savings account of OCGEMPC

Done this 26th day of October 2011.