Print

LONGPARISH PARISH COUNCIL

THE PLOUGH INN LOAN PROCUREMENT & LEGAL MATTERS WORKING PARTY

 

TERMS OF REFERENCE

 

  1. The Working Party reports to the Parish Council.
  2. The Working Party’s aims are to:
    • Assist members of the Council in understanding the PWLB loan process and how it relates specifically to the purchase of The Plough Inn, Longparish.
    • Prepare and, if authorised by the PC to do so, complete the necessary administration and legal obligations to secure a PWLB loan to be able to provide LCPL with funds to enable the purchase of The Plough Inn, Longparish.
  3. In pursuit of these aims it will:
    • Seek legal assistance and advice through HALC and other external bodies where necessary
    • Facilitate public awareness and understanding of the process and its implications
    • Prepare the PWLB loan application for presentation to the Full Council, and seek borrowing approval from HALC following approval of the documentation from Councillors
    • Review the Council’s financial risks and make recommendations to minimise this risk after taking legal advice via HALC
    • Prepare a contract between LCPL and the Parish Council for the amount of the grant/loan to minimise risk to the Parish Council
    • Ensure that each stage of the process is approved by Full Council
  4. The Working Party will meet as necessary. 
  5. The Working Party will exist purely for the purposes of facilitating this process, unless the Parish Council has any reason to require further assistance from this Working Party.

Reviewed : June 2020

Acronyms:

PWLB              Public Works Loan Board

LCPL                Longparish Community Pub Limited

HALC               Hampshire Association of Local Councils

(also referred to as “County Association”)