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WHANGAREI LEADER, MARCH 29, 2011
The New Zealand Local Government Funding Agency Limited
(LGFA), which will be a Council-Controlled Trading Organisation,
is being created by a group of councils nationwide to enable them
to borrow at lower interest margins. Whangarei District Council is
proposing to be an investor in the LGFA along with the Government.
Because Council's borrowing from the LGFA will generally be
required to hold shares in the LGFA and enter into guarantees for
obligations of the LGFA and other councils, Council also proposes to
be a principal shareholding local authority. This will require Council
to invest capital into the LGFA, on which it expects to receive a
return. This investment will also assist in making the LGFA viable.
Investing in the LGFA requires an amendment to the Council
Liability Management and Investment Policies. These policies form
part of the Funding and Financing Policies section in Council's
2009/2019 Long Term Council Community Plan. The amendment
to the policies will recognise the proposal to participate in the LGFA
Scheme as a principal shareholding local authority (and guarantee-
ing local authority) and amend the policies accordingly.
Council is interested to hear what you think of the proposal of
investing in the LGFA to lower the cost of borrowing and the
resulting changes to the Liability Management and Investment
Policies required to enable this.
Summary Statement of Proposal to amend
Council's Liabilities Management and
Investment Policies to allow for Council's
investment in the New Zealand Local
Government Funding Agency
to Council's 2009-2019 Long Term Council Community Plan
OFFICE USE ONLY
Submission Number: _____________________
Points to remember when making a submission:
Please print clearly. As people will read your submission, please make sure it can
• be easily photocopied, read and understood.
Your submission is a public document and will be made publicly available at Council
outlets and on Council's website.
Your submission will not be returned to you once lodged with Council -- please keep
a copy for your reference.
The hearing of submissions by Council will take place on 9 May (and 10 May if
We will respond in writing to every submission we receive. Please ensure you
• provide appropriate contact details so that our response gets back to you.
We regularly inform people who have made submissions to Council of other consul-
• tation processes and the availability of draft documents via email. Should you not
wish to receive any such advice please tick this box
Submissions must be received by 5pm Friday 29 April.
Organisation Name *:
*Please provide an organisation name only if you are making this submission on behalf of that organisation.
Best daytime contact No(s):
Do you wish to be heard in support of your submission?
If you do wish to be heard, which of the two dates would best suit you?
Do you support the proposed amendment? Yes
If you need more writing space just attach additional sheet(s) to this form
Making a submission
In person: A completed submission form can be dropped off
at any Council office (see overleaf for details).
By mail: Fill out the form below (or print a copy from our
website). Mail the form to: LTCCP Amendment Submissions |
Private Bag 9023 | Forum North | Whangarei 0148
Online: Visit www.wdc.govt.nz -- go to the public consulta-
tions box on the front page.
Email: Email your submission to email@example.com.
Telephone: You can also call 0800 WDC INFO (0800 932
463) and provide your submission to a call centre staff
member who will record it for you.
Fax: 09 438 7632.
Disability: If you have a disability and as a result are not able
to make a submission in the above formats, please contact us
on 0800 WDC INFO (0800 932 463).
Speaking at a hearing
You can choose to support your submission in person during
the Extra-ordinary Council Meeting that will begin on 9 May
2011 and continue on 10 May if required.
If you note your preferred hearing date we will aim to meet
your request, however this is not always possible due to
cancellations or lack of demand. Please ensure the contact
phone number you supply is one where we can contact you
on the day of the hearing.
We will send you a letter to inform you of your timeslot along
with a brochure that provides you with information about the
Draft Amendment approved:
23 March 2011
Open for Submissions:
29 March-29 April 2011
9-10 May 2011
of 2009-2019 LTCCP
22 June 2011
Read the full
In hard copy at
Forum North, Hikurangi,
Central, Kamo, Tikipunga,
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