Agenda item

Report of the Chamberlain

The Sub-Committee received a Report of the Chamberlain concerning the Chamberlain’s Department’s Business Plan.

The Chairman emphasised that significant discussion had taken place around the major projects, and that this was the first occasion in many years that the City was borrowing considerable sums of money from the banks. He stressed that approval to borrow had not been given, but it was important to put a strategy in place so that the City could move quickly if needs be; Rothschilds have been engaged as advisors.

The Chairman asked officers to amend the scorecard table on page 45, the current iteration wasn’t as clear as it could be.

RESOLVED – that Members noted the Report