Local democracy during coronavirus

During coronavirus, we've made some changes to how we're running council meetings. See our coronavirus updates for more information on meetings and decisions.

Decision details

Yorkshire Purchasing Organisation

Decision Maker: Executive

Decision status: For Determination

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

Purpose of Report: As one of the founder members, to consider the potential major investment by a partner authority in relation to the Yorkshire Purchasing Organisation.

 

Members are asked to note the impact on the Council and confirm agreement to the investment.

Decision:

Resolved:  (i)      That the proposed transaction be supported.

 

(ii)      That financial backing for the transaction be confirmed and approval be given to underwrite a loan through entering into a supplemental agreement, with authority being delegated to the Chief Executive to approve the supplemental agreement set out in Appendix 4 to the report, subject to:

a)   At least 10 of the 13 founder members remaining as founder members and agreeing to enter into the supplemental agreement;

b)   The satisfactory completion of legal and financial due diligence on the proposal giving confidence to process; and

c)   A resolution of the YPO Management Committee to enter into the transaction.

 

Reason:     To enable YPO to continue to provide benefits to its members in the long term.

 

 

 

 

 

Report author: Debbie Mitchell

Publication date: 28/11/2019

Date of decision: 28/11/2019

Decided at meeting: 28/11/2019 - Executive

Effective from: 03/12/2019

Accompanying Documents:

 

Feedback
Back to the top of the page