asked the Minister for Local Government (a) whether he received an application from the Limerick Corporation for £49,000 from the Local Loans Fund, whether the application was refused, and, if so, the reason for the refusal, and (b) whether the Limerick Corporation have made arrangements to borrow the money elsewhere, and, if so, whether sanction has been sought for such borrowing, and if he will state the terms of the contemplated loan.
Ceisteanna—Questions. Oral Answers. - Limerick Corporation Loans.
No application has been received from Limerick Corporation for sanction to the borrowing of £49,000 from the Local Loans Fund but an inquiry was recently received from the city manager as to whether a loan of £50,000 would be made available from the fund to defray the payment of £49,098 awarded to Limerick County Council in consequence of the extension of the city boundary. In a reply issued on the 29th March, 1956, the city manager was informed that the resources of the fund were reserved for capital expenditure on major works but that an application for sanction to borrowing from the corporation's treasurer or some other source would be considered.
I understand that an offer from another source has been obtained but no proposals have yet been submitted for sanction.
Is the Minister aware that the other source from which Limerick Corporation had to borrow is three-quarters per cent. higher?
I have not received any proposals whatever other than the one I have stated.
asked the Minister for Local Government whether he has received an application from the Limerick Corporation for a loan from the Local Loans Fund in connection with that body's housing programme, other than schemes under the Small Dwellings Acquisition Acts; and, if so, if he will state (a) the amount of the required loan, (b) the date of application, and (c) whether sanction has been given, and, if not, when he expects to be in a position to issue sanction.
The corporation applied in February, 1955, for sanction to a loan of £75,000 for a housing scheme at Pennywell. To enable the application to be considered, it was necessary to ask for further information regarding certain expenditure being charged to the scheme. In the meantime, the basis of the scheme was altered and it became necessary for the corporation to submit a revised estimate of cost. The revised estimate has not yet been received in the Department. I will not be in a position to consider the matter further until the revised estimate is submitted.