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[A.M. No. 95-8-08-SC. January 11, 2005]

RE: ESTABLISHMENT OF PHILJA

Gentlemen:

Quoted hereunder, for your information, is a resolution of this Court dated JAN 11 2005 ]

A.M. No. 95-8-08-SC (Re: Establishment of the Philippine Judicial Academy.)

The Court Resolved to NOTE the

(a) Letter dated 3 January 2005 of Justice Ameurfina A. Melencio Herrera, Chairman/President, (PHILJA) Development Center, Inc., re: Submission of Undertaking of the PHILJA Development Center, Inc. (PDCI) to pay the additional P350,000.00 interest-free loan extended by the Court; and

(b) Aforesaid Undertaking wherein the PDCI, through its Board of directors, undertakes to pay to the Supreme Court two percent (2%) of the Centers annual net income or 2% of the interest-free loan of P350,000.00, whichever computation would yield a higher amount, payable at the end of each calendar year, until the full amount of P350,000.00 shall have been fully paid, provided that it shall be fully paid at the end of twenty (20) years.

Very truly yours,

LUZVIMINDA D. PUNO

Clerk of Court

By:

(Sgd.) MA. LUISA D. VILLARAMA

Asst. Clerk of Court

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