Vol. 504 No. 7
239 Mr. Noonan asked the Minister for Health and Children if a loan raised by his Department with the AIB in 1980 was used solely for financing work at Beaumont Hospital; if the loan was sanctioned by the Department of Finance; if terms and conditions were sought from other lending organisations; the amount, terms and conditions of the loan; the reason he has referred the file to the Attorney General; and if he will make a statement on the matter. [12942/99]
The loan referred to by the Deputy was raised in 1981 and was used solely for the new hospital project. The loan arrangements were sanctioned by the Department of Finance in February 1981. Pursuant to the provisions of the Beaumont Hospital Board (Establishment) Order, (1977), consent to raising the loan was given to the hospital by the Minister for Health in March 1981.
The loan, for a principal sum of £7 million, was provided by Allied Irish Banks Limited, repayable over a five year period at triple "A" rates. No approaches were made to other lending agencies in relation to the loan; the hospital's capital account was held by the Allied Irish Banks, Limited.
