RESOLUTION NO.

___ SERIES OF 2019

A RESOLUTION AUTHORIZING THE OPENING OF THE BARANGAY ______ SANGGUNIANG

KABATAAN, MUNICIPALITY OF NAIC, PROVINCE OF CAVITE AT THE LAND BANK OF
THE PHILIPPINES, CAVITE CITY BRANCH AND AUTHORING SANGGUNIANG KABATAAN
CHAIRPERSON HON. (NAME) AND SANGGUNIANG KABATAAN TREASURER (NAME) AS
SIGNATORIES WITH THE LAND BANK OF THE PHILIPPINES-CAVITE CITY BRANCH
SPECIFYING THEIR OFFICIAL SIGNATURE RELATIVE TO THE SANGGUNIANG
KABATAAN ______ TRANSACTION WITH THE BANK

WHEREAS, Republic Act 10742 or the SK Reform Act of 2015 states that 10% of the general
fund of the barangay shall set aside for the SK. The Sangguniang Barangay shall appropriate
the SK funds in a lump sum, which shall be disbursed solely for youth development and
empowerment;

WHEREAS, further, Section 20 (b) of the Republic Act 10742 states that the SK shall have
financial independence in its operations, disbursements and encashment of the funds,
income and expenditures. As such the SK funds shall be deposited in the name of the SK of
the concerned barangays in a government owned bank situated in or nearest to its area of
jurisdiction with the SK Chairperson and SK Treasurer as the official signatories;

WHEREAS, item 3.2.2 of the DBM-DILG-NYC JMC No, 1 series of 2019 provides that for
efficiency and economy purposes, it is strongly encouraged for the SK to open and maintain
a depository account in the same bank and branch of the barangay;

NOW, THEREFORE, BE IT RESOLVED, AS IT IS HEREBY RESOLVED, BY THE

SANGGUNIANG KABATAAN OF BARANGAY ________, MUNICIPALITY OF NAIC, PROVINCE
OF CAVITE BY VIRTUE OF THE POWERS VESTED IN IT BY LAW, IN SESSION ASSEMBLE
THAT:

SECTION 1. The SK _____ is hereby authorized to open a new peso deposit account with the
LBP-Cavite City Branch;
SECTION 2. It is authorize the herein SK-____________ officials as authorized signatory of the
Bank, as follows:

a. HON. _____________________________________, SK-_____- Chairperson

b. Mr./Ms ____________________________________, SK-___________, Treasurer
c.

RESOLVED FURTHER, to furnish copy of this resolution to Land Bank of the Philippines, San
Nicolas Branch and all concerned for their information and guidance.

UNINAMOUSLY APPROVED.

I hereby certify to the correctness of the foregoing resolution.

(NAME)
Secretary, SK - __________________

ATTESTED:

(NAME)
Chairperson, SK-________________________--

Approved on: (Date)