Another important event happened particularly in 1997 was the transfer of public market to the new P60 Million public market which is more than a kilometer away from the old market. The new market was constructed in a seven (7) hectare donated land by the Pereyras family. The said area is also the site of the new Tagum Overland Transport Integrated Terminal (TOTIT) worth P 60 Million and the Livestock Auction Center worth P 2.5 Million. Foremost of the development of Tagum in the 1990s was its conversion into a Component City of Davao del Norte. Congressman Baltazar Sator sponsored House Bill No.7509 in the House of Congress. Prior to its approval, a public hearing was conducted in Tagum by the Committee on Local Government of the House of Congress, chaired by Congressman Ciriaco Alfelor. The said law passed all the requisites in the House of Congress, resulting to its approval. Then, Republic Act 8472 “An Act converting the Municipality of Tagum into a City, to be known as the City of Tagum” was passed to the House of Senate through the sponsorship of Senator Vicente Sotto III. On January 30, 1998, the said Republic Act was signed into law by His Excellency Fidel V. Ramos and it was ratified through a plebiscite in Tagum on March 7, 1998. The incumbent Municipal Mayor, Victorio R. Suaybaguio, Jr., who served his last term in the office, became the first City Mayor of Tagum. His incumbency as the first city mayor was only for a short period, however, because he resigned from the office to seek for higher political position. In the May 1998 election, Suaybaguio run as Vice Governor in Davao del Norte. By virtue of the law, Arrel R. Olaño, the incumbent City Vice Mayor took over the position as the City Mayor. However, he only served in his capacity as the mayor for short period because he also resigned and sought for higher political position as board member in the provincial government. The next higher in rank in the officialdom was the first city councilor in the person of Octavio R. Valle. By this capacity, he took over the position as the Vice Mayor and became the Acting City Mayor of Tagum while running as Vice Mayor in the May 1998 election. The first elected City Officials of Tagum assumed office on July 1, 1998 under the leadership of Mayor Rey T. Uy and Vice Mayor Gerardo R. Racho.