Agenda item

Cllr Clarence Barrett introduced the report which updated on progress in establishing a Municipal Bonds Agency, following the Executive’s approval in July to move the project into full mobilisation phase.  In doing so, he highlighted the project’s success in securing investment from a diverse range of 38 councils; however he encouraged Members to continue to promote the project as its success would be contingent upon councils being willing to take advantage of the borrowing and investment opportunities. 

In the discussion that followed, Members made a number of comments, including:

·        Members commended the success, progress and ambition of the project thus far.  In doing so, they emphasised the importance of publicising this good new story more widely and noted their role in promoting the project within their peer group.  With this in mind, the Board stressed the importance of an effective communications plan to maximise opportunities to promote the project within the sector and beyond.

·        It was suggested that incentives for early repayment of loans be considered. 

Decision

That the Board noted the progress and supported efforts to identify further investors in, and borrowers from, the Agency.

Action

Circulate to Board Members the promotional leaflet on the Municipal Bonds Agency that was circulated at the LGA Conference. John Wright.