home - committee - volume - faq's - help -search - meeting - previous - next

V27-1202 : BORROWING LIMITS 2000/01

The report of the Director of Central Services outlined the following borrowing limits to be determined by the Council before 1 April of each financial year, as required by Section 45 of the Local Government and Housing Act 1989:

S.45(1)(a) "The overall borrowing limit" which is the maximum amount which the authority may have outstanding at any time

S.45(1)(b) "The short-term borrowing limit" which is the maximum amount within the overall borrowing limit which is repayable within twelve months

S.45(1)(c) The variable rate limit which is a limit on the proportion of the amount of interest the rate of which could be varied by the lender by reference to external factors

RESOLVED

That the following borrowing limits for 2000/01 pursuant to Section 45 of the Local Government and Housing Act 1989 be approved:

(a) The overall borrowing limit £30m
(b) The short-term borrowing limit £20m
(c) The proportion of interest payable which may be at a variable rate of interest 75%

Volume 27 Minute 1202

powered by Oultwood Web Technology

© Waveney District Council