Borrowing Approval Resolution

  • At the Woodhall Spa Parish Council meeting of 2nd July 2019, it was RESOLVED to seek the approval of the Secretary of State for Housing, Communities & Local Government to apply for a PWLB loan of £350,000 over the borrowing term of 20 years for the development of the health and fitness development at Jubilee Park . The annual loan repayments will come to around £21,000.

    It is not intended to increase the council tax precept for the purpose of the loan repayments.

    The Council acknowledged that in the case of a JPWS default, and if other arrangements could not be made, that it may be necessary to raise the precept to cover the remaining loan repayments.  This has been identified in the community consultation leaflet.

    If you have any views or opinions you wish to feed in, please contact the parish council direct.