355 Deputy Joan Collins asked the Minister for the Environment, Community and Local Government if his attention has been drawn to the fact that in the local government auditor’s report presented to the council in 2010, the auditor pointed out that Sligo County Council borrowed €11.2 million to purchase lands at Lisnalurg, Sligo, and that the council subsequently sold some of the lands in question to a number of purchasers for the sum of approximately €9.6 million; if his further attention has been drawn to the fact that had the council repaid €9.6 million of the loan it would have had an outstanding balance of €1.6 million to repay in addition to whatever interest was owed; that the auditor discovered that when the council received the €9.6 million for the sale of the lands, only €5.2 million of that sum was used to reduce the loan; if he is aware that the accrued interest on the outstanding loan up to the end of 2008 amounted to €3.3 million; and that the elected members of Sligo County Council adopted the following motion in May 2010: that the council be provided with a comprehensive report relating to the purchase of 83 acres of land at Lisnalurg, including the reason for purchasing the lands, the amount of moneys borrowed to purchase the lands, the subsequent reason for recommending the sale of 49 acres of the lands and the reason for failing to use the proceeds of the sale to reduce the loans and interest payable, and the details of the accrued interest paid on the outstanding loans to date; and to ask the Minister if he is aware that to date the county manager has not provided the council with the report it sought; the steps he will take to ascertain what happened to the remaining €4.4 million which the council received for the sale of the land; if he will indicate the total accrued interest on the said loan up to the end of 2010; if he will pay the full interest on the loan; and if he will make a statement on the matter. [37122/11]

Summary

355 Deputy Joan Collins asked the Minister for the Environment, Community and Local Government if his attention has been drawn to the fact that in the local government auditor’s report presented to the council in 2010, the auditor pointed out that Sligo County Council borrowed €11.2 million to purchase lands at Lisnalurg, Sligo, and that the council subsequently sold some of the lands in question to a number of purchasers for the sum of approximately €9.6 million; if his further attention has been drawn to the fact that had the council repaid €9.6 million of the loan it would have had an outstanding balance of €1.6 million to repay in addition to whatever interest was owed; that the auditor discovered that when the council received the €9.6 million for the sale of the lands, only €5.2 million of that sum was used to reduce the loan; if he is aware that the accrued interest on the outstanding loan up to the end of 2008 amounted to €3.3 million; and that the elected members of Sligo County Council adopted the following motion in May 2010: that the council be provided with a comprehensive report relating to the purchase of 83 acres of land at Lisnalurg, including the reason for purchasing the lands, the amount of moneys borrowed to purchase the lands, the subsequent reason for recommending the sale of 49 acres of the lands and the reason for failing to use the proceeds of the sale to reduce the loans and interest payable, and the details of the accrued interest paid on the outstanding loans to date; and to ask the Minister if he is aware that to date the county manager has not provided the council with the report it sought; the steps he will take to ascertain what happened to the remaining €4.4 million which the council received for the sale of the land; if he will indicate the total accrued interest on the said loan up to the end of 2010; if he will pay the full interest on the loan; and if he will make a statement on the matter. [37122/11]

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