Decision details

Provide a loan to the Royal Bournemouth & Christchurch NHS Foundation Trust to enable them to deliver a new pathology facility serving the conurbation and the rest of Dorset

RECOMMENDED that Council:-

(a)        approve a £14.9m investment over a 15-year repayment period to The Royal Bournemouth and Christchurch Hospitals NHS Foundation Trust on the terms outlined in in paragraph 3 of the report;

(b)       extend the Councils schedule of approved counterparties for investments to include the Royal Bournemouth and Christchurch Hospital NHS Foundation trusts for the purposes of this investment only as well as increase the time limit to 15 years;

(c)        delegate to the Chief Finance Officer the approval of any further detailed terms for the provision of the investment; and

(d)       authorise the Council’s Monitoring Officer to draw up and enter into a suitable legal agreement with the NHS Foundation Trust.

Voting: Unanimous

REASONS

To provide the funding the NHS Foundation Trust is seeking to enable its investment in its front-line services and benefit the local community.