View Cabinet Decision Record

Cabinet Decision: 15th February 2018
Title of Item/Report
Combined Authority Borrowing Regulations
Record of the Decision
Consideration was given to a report that sought consent in principle to the making of the Tees Valley Combined Authority (Borrowing) Regulations 2018 in order to introduce borrowing powers for the Tees Valley Combined Authority (TVCA). These powers would support TVCA in delivering its aim of furthering the sustainable growth of the Tees Valley.

RESOLVED that:-

1. Consent in principle be given to the making of the Tees Valley Combined Authority (Borrowing) Regulations 2018

2. Delegation be given to the Director of Finance and Business Services to give final consent to the Regulations, once requested by the Secretary of State.
Reasons for the Decision
It is a requirement that any borrowing undertaken would be in accordance with the aims of the TVCA to further the sustainable and inclusive growth of the economy of the Tees Valley. It is anticipated that this will have a positive benefit upon the borough and will assist in delivering the Council’s priorities.
Alternative Options Considered and Rejected
None.
Declared (Cabinet Member) Conflicts of Interest
Councillor Bob Cook declared a personal non prejudicial interest in respect of agenda item 7 - TVCA Borrowing Regulations as he was a member of TVCA Cabinet.

Councillor Jim Beall declared a personal non prejudicial interest in respect of agenda item 7 - TVCA Borrowing Regulations as he was a named substitute of TVCA Cabinet.
Details of any Dispensations
N/A
Date and Time by which Call In must be executed
Midnight, 23 February 2018
Attachment

Date of Publication: 19 February 2018


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