LOBO loans

The request was successful.

Jonathan Stevenson

Dear Northumberland County Council,

1. How many Lender Option Borrower Option (LOBOs) contracts do you
have on your books?
2. When were they signed? and by whom?
3. With which financial institutions were they taken out?
4. Who advised the council to enter the LOBO(s)
5. Since each Contract has been signed, has the lender exercised
their option and changed the interest rate?
6. If so, please specify the dates of the interest rate changes and
the revised interest rates.
7. Please provide a copy of the original, signed LOBO agreements.

Yours faithfully,

Jonathan Stevenson

Freedom Of Information, Northumberland County Council

Dear Enquirer

 

Thank you for your request for information in regard to LOBO contracts.  
Your request was received on 04 March 2015 and will be dealt with under
the terms of the Freedom of Information Act 2000. 

In some circumstances a fee may be payable and if that is the case, we
will let you know the likely charges before proceeding.

 

If you have any queries about this matter please contact us at
[1][email address].  Please remember to quote the reference
number above on any future communication.

 

Kind regards

 

Information Governance Office

Northumberland County Council

County Hall

Morpeth

Northumberland

NE61 2EF

 

Tel:  0845 600 6400

Email:  [2][Northumberland County Council request email]   

Web:  [3]http://www.northumberland.gov.uk

 

 

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References

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Fuller, Nathan, Northumberland County Council

1 Attachment

Dear Mr Stevenson

 

Thank you for your freedom of information request (ref: 101002974444) in
which you asked:

 

1. How many Lender Option Borrower Option (LOBOs) contracts do you have on
your books? 22

2. When were they signed? and by whom? See answer sheet attached

3. With which financial institutions were they taken out? See answer sheet
attached

4. Who advised the council to enter the LOBO(s) The Councils Treasury
Management Advisors during the period were Sector, Butler and Capita.
However whilst the advisers provide support to the internal treasury
function, under current market rules and the CIPFA Code of Practice the
final decision on treasury matters remain with the Council

5. Since each Contract has been signed, has the lender exercised their
option and changed the interest rate? No

6. If so, please specify the dates of the interest rate changes and the
revised interest rates. N/A

7. Please provide a copy of the original, signed LOBO agreements. Attached

 

Complaints

 

If you are unhappy with the way your request for information has been
handled, you can request an internal review by writing within 2 months
from the date of this response to the Information Governance Office:

 

Information Governance Office

Northumberland County Council

County Hall

Morpeth

NE61 2EF 

 

Email:  [1][Northumberland County Council request email] 

 

Information Commissioner

 

If you remain dissatisfied with the handling of your request or complaint,
you have a right by Section 50 of the Act to apply to the Information
Commissioner for a decision as to whether your request has been dealt with
in accordance with the requirements of the Act at:

 

The Information Commissioner's Office

Wycliffe House

Water Lane

Wilmslow

Cheshire

SK9 5AF

 

 

Tel: 01625 545 745 / Fax: 01625 524 510

Email: [2][email address]

 

 

There is no charge for making an appeal.

 

Yours sincerely,

 

FOI Corporate Resources Group

County Hall

Northumberland County Council

0845 6006400

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Save Time Do It Online!
We have made some key improvements to our site to make all of our services
easy to access. Now you can do everything from paying your council tax, to
reporting a faulty street light online. Go to:
[4]www.northumberland.gov.uk and click 'pay, apply or report' to access
the relevant forms.

Northumberland added disclaimer
This email is intended solely for the individual or individuals to whom it
is addressed, and may contain confidential and/or privileged material. If
you are not the intended recipient you are notified that disclosing,
copying, distributing or taking any action in reliance on the contents of
this email is prohibited. If you receive this email in error, please
contact the sender and delete the email from any computer. All email
communication may be subject to recording and/or monitoring in accordance
with internal policy and relevant legislation. Please, consider your
environmental responsibility. Before printing this e-mail ask yourself:
"Do I need a hard copy?"

References

Visible links
1. mailto:[Northumberland County Council request email]
2. mailto:[email address]
3. http://family.northumberland.gov.uk/
4. http://www.northumberland.gov.uk/