Page 4 - Shire of Roebourne
Page 4 - Shire of Roebourne
Page 4 - Shire of Roebourne
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Ordinary Council Meeting – Agenda 16 February 2009<br />
8.2.4 LOAN 98 KARRATHA AIRPORT UPGRADE<br />
File No: AA/4/1<br />
Responsible Officer: Jim Goulias<br />
Acting Manager Financial Services<br />
Author Name: Jim Goulias<br />
Acting Manager Financial Services<br />
Disclosure <strong>of</strong> Interest: Nil<br />
REPORT PURPOSE<br />
To seek Council‟s consideration <strong>of</strong> Loan 98 for the purpose <strong>of</strong> financing the upgrade to<br />
Karratha Airport.<br />
Background<br />
At the budget meeting held 28 July 2008 it was resolved to borrow $10,000,000 for the<br />
purpose <strong>of</strong> upgrading the Karratha Airport. Works are progressing well with the asphalt<br />
(worth $4,000,000) expected to be completed by end <strong>of</strong> December.<br />
Letters have been sent to 6 financing organisations seeking proposals to fund the loan<br />
based on the following information:<br />
Loan No. 98<br />
Purpose: Karratha Airport Upgrade<br />
Amount: $10,000,000<br />
Term: 10 years<br />
Details: Equal Half Yearly Repayments<br />
Drawn Down Date: 17 February 2009<br />
1st Payment Date: 17 August 2009<br />
Proposals for this loan do not close until 1.00pm Monday 16 February 2009. Figures will<br />
be presented to the Council meeting.<br />
Issues<br />
There are no issues.<br />
Options<br />
Council has the following options available:<br />
1. Accept the lowest quote<br />
2. Accept a quote received from another institution<br />
3. Resolve not to proceed with the loan<br />
Policy Implications<br />
There are no relevant Policy implications pertaining to this matter.<br />
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