Agenda and decisions

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Contact: Democratic Services  Email: committee@uttlesford.gov.uk

Items
No. Item

1.

Apologies for Absence and Declarations of Interest

To receive any apologies for absence and declarations of interest.

2.

Exclusion of the Public and Press

Consideration of reports containing exempt information within the meaning of section 100I and paragraph 3 part 1 Schedule 12A Local Government Act 1972.

3.

Investment Opportunity

To consider an investment opportunity.

Decision:

Cabinet RESOLVED:

 

i)      To adopt the Investment Board recommendations;

 

(a)  That the purchase as set out in the report is agreed; and

(b)  That the purchase is to be funded 80% interest only and 20% on a repayment basis.

(c)   That the Cabinet expresses an intention to recommend that the Council exercise the pre-emption option, subject to due diligence.

(d)  That the purchase is made as a direct investment by Uttlesford District Council.

(e)  That the purchase costs are capitalised.

 

ii)     To authorise the Director of Finance and Corporate Services in consultation with the Leader and Portfolio Holder for Finance and Budget to conclude the acquisition; subject to iii)

 

iii)   To request Council to endorse the purchase and to authorise the necessary borrowing.