ORDINANCE No. 5558

 AN ORDINANCE AUTHORIZING HIS HONOR, THE MAYOR, TO NEGOTIATE WITH ANY REPUTABLE BANKING OR LENDING INSTITUTION FOR A LOAN IN THE AMOUNT OF P2,000,000.00 TO BE USED BY THE CITY FOR THE ACQUISITION, EITHER THRU DIRECT PURCHASE OR EXPROPRIATION, OF THE ESTEFANIA SILVESTRE ESTATE, SITUATED IN THE DISTRICT OF MALATE, WHICH IS OWNED BY MRS. JULIANA DIEZ DE GABRIEL AND PRESENTLY UNDER THE ADMINISTRATION OF THE PHILIPPINE TRUST COMPANY, THE SAME TO BE SUBDIVIDED AND RESOLD ON EASY INSTALIMENT PLANS, PREFERENCE BEING GIVEN TO THE ACTUAL AND BONA FIDE TENANTS THEREOF, SUBJECT TO CERTAIN CONDITIONS.