Decision

To prematurely repay the £15,499.000 of
external borrowing held by the Council with the Public Works Loan
Board at a discount of £6,472,430 leaving a balance of
£9,031,570 to be paid

Alternative options considered

Other options considered but not taken:

Not prematurely repay the borrowing and retain the cheap rate
borrowing

To prematurely repay part of the borrowing with a view to securing
a larger discount