COMHAIRLE CONTAE ÁTHA CLIATH THEAS
SOUTH DUBLIN COUNTY COUNCIL

MEETING OF SOUTH DUBLIN COUNTY COUNCIL

Monday, March 10, 2008

HEADED ITEM NO. 12

AUTHORISATION OF OVERDRAFT ACCOMMODATION 2008

It has not been necessary to seek overdraft accommodation in the past, but in the current situation arising from the rates revaluation whereby the rates bills were issued a month later than usual and appeals amounting to 28.3% of the total valuation or €33,231,094 of 2008 warrant of €117,437,939 are currently with the Valuation Office for decision, it is considered prudent to seek approval to the securing of overdraft accommodation for the period 01/01/2008 to 31/12/2008.

Accordingly, it is recommended that the Council approve, subject to the sanction of the Minister for the Environment, Heritage and Local Government, the securing of overdraft accommodation on the Council’s revenue account to a limit of €20m for the period 01/01/2008 to 31/12/2008.