CITY COUNCIL TO GO AHEAD WITH 15 MILLION EURO OVERDRAFT

Date Published: 10-Feb-2009

The City Council has been given the go-ahead for a 15 million euro overdraft facility.At last night's meeting, the manager Joe McGrath explained to councillors that the overdraft may never be used.He said it was a precaution in case funding from various agencies didn't come through on time.Councillor John Mulholland said it is common business practice to apply for an overdraft facility.However, councillor Daniel Callanan said he wanted "no hand, act or part, in such a wreckless decision."