Agenda item

Provision of Loan Funding to Celtic Leisure Limited

Report of the Head of Finance

Decision:

1.    That a loan in the sum of £250,000 to Celtic Leisure Limited, be approved;

 

2.    That delegated authority be granted to the Head of Finance, in consultation with the Head of Legal Service, to enter into a loan agreement detailing the arrangements between the Council and Celtic Leisure Limited.

Minutes:

Decisions:

 

1.              That a loan in the sum of £250,000 to Celtic Leisure Limited, be approved;

 

2.              That delegated authority be granted to the Head of Finance, in consultation with the Head of Legal Services, to enter into a loan agreement detailing the arrangements between the Council and Celtic Leisure Limited.

 

Reason for Decisions:

 

To help finance modernisation works at Pontardawe Leisure Centre.

 

Implementation of Decisions:

 

The decisions will be implemented after the three day call in period.

Supporting documents: