Decision details

1.              That a maximum loan of £37,000 to Blaengwrach Community Council Limited at an interest rate of 1% for a maximum period of 15 months, be approved, and should the bank base rate increase before the loan be taken out, the interest rate will increase by the same % rise;

2.    That a maximum loan of £156,000 to Seven Sisters Community Council at an interest rate of 1% for a maximum period of 9 months, be approved, and should the bank base rate increase before the loan be taken out, the interest rate will increase by the same % rise;

3.              That delegated authority be granted to the Director of Finance and Corporate Services (in consultation with the Head of Legal Services) to enter into a loan agreement detailing the arrangements between the Council and each Community Council.