Decision details

West Midlands Combined Authority (WMCA) Borrowing Powers and Amendments to Key Route Network

Decision Maker: Cabinet (Resources) Panel

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

To approve the delegation of authority to the WMCA to approve an amendment to statutory regulations which amend the WMCA borrowing powers.

Decision:

1.       That authority be delegated to the Leader of the Council in consultation with the Managing Director to implement the following recommendations at an appropriate time by way of written notification to the WMCA:

 

a.     Delegate authority to the WMCA to approve the amendment to statutory regulations which amend the WMCA borrowing powers as set out in the report, subject to:

 

i     The additional borrowing powers sought being fully aligned to the WMCA’s statutory functions as detailed within the West Midlands Combined Authority (Functions and Amendment) Order 2017.

 

ii     Equivalent authority / approval allowing the WMCA to enter into the delegation, being received by the other Constituent Local Authorities.

 

 

 

2.        That the WMCA borrowing cap suggested by HM Treasury as outlined within this report be approved.

 

 

3.        That authority be delegated to the Leader of the Council, in consultation with the Managing Director to approve the amendment to the Key Route Network as detailed within the report.

 

Report author: Tracey Christie

Publication date: 17/01/2018

Date of decision: 16/01/2018

Decided at meeting: 16/01/2018 - Cabinet (Resources) Panel

Effective from: 24/01/2018

Accompanying Documents: