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Early repayment offer from Waikato Rugby Union approved
Early repayment offer from Waikato Rugby Union approved
23 October 2012
Hamilton City Council’s Finance and Monitoring Committee today approved an offer of early repayment of $341,025 of outstanding debt from Waikato Rugby Union (WRU).
The acceptance of the offer was conditional on Council also waiving the right to impose an early repayment penalty and associated costs, which would have been the equivalent of around three months of interest payments.
The $341,025 received from WRU will be used by Council to reduce city debt.
Councillor Dave Macpherson, who chairs the Finance and Monitoring Committee, says, “It is pleasing that the Waikato Rugby Union has got itself back in the game and is now in a position to be able to settle this debt early with Council.”
ENDS
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