RESOLUTION AUTHORIZING THE PROVINCIAL GOVERNOR TO ENTER INTO A DEPOSIT HOLD OUT WITH THE PHILIPPINE NATIONAL BANK, LAGAWE BRANCH, AS WELL AS AUTHORIZING THE SAME BANK TO WITHHOLD THE AMOUNT OF FOUR MILLION FIVE HUNDRED THOUSAND PESOS (P4,500,000.00) UNDER "THE SAME AGREEMENT, FROM THE DEPOSIT OF THE PROVINCIAL GOVERNMENT WITH SAID BANK TO BE USED TO OPEN A LETTER OF CREDIT FOR THE PURCHASE AND IMPORTATION OF VARIOUS EQUIPMENTS AS AUTHORIZED IN RESOLUTION NO.307, SERIES OF 1994 OF THIS SANGGUNIAN, PENDING APPROVAL AND RELEASE OF THE LOAN APPLIED FOR UNDER SAID RESOLUTION
