Birmingham Airport
Report of the Director of Finance
(Listing Officer: Michael Rennie, Tel: 024 7697 2628)
Minutes:
Further to Minute 96 above, the Cabinet considered a report of the Director of Finance which detailed the commercially sensitive aspects of providing Shareholder support to Birmingham Airport Holdings Limited.
RESOLVED that the Cabinet recommends that Council:-
1) Approves aloan facilityto Birmingham Airport Holdings Limitedon commercialmarket terms upto thevalue of£5.7m.
2) Delegates authority to the Director of Finance (S151 Officer) and the Director of Law and Governance, following consultation with the Cabinet Member for Strategic Finance and Resources, to finalise and agree the detailed terms of the transaction with BAHL. The authority under this delegation shall also include:
· the power to enter into the relevant legal agreements and associated documents necessary to complete the transaction with BAHL; and
· (in relation to the management of the loan facility) the power to negotiate and agree variations to the terms of the loan facility.