Purpose

In order to diversify the Council’s
investments further, ArlingClose, our treasury advisors suggested
offering a credit facility to a Housing Authority that they have
vetted and approve for us to work with.

Offering this credit facility will earn a fee for the Council on
any credit not utilised. If any of the credit facility is used, the
Council will earn equivalent to current market conditions interest
on that credit.

Content

Option 1 was selected and approved as it
provided the best return on investment for the next three
years.

Alternative options considered

Option 1 - Agree to provide a credit facility
that could be utilised for the following three years with the
option to extend a further two years.
Option 2 - Do nothing and continue with current investment
strategies