THE Ekurhuleni Metro plans on borrowing R1.1 billion to fund its capital expenditures for the period 2014/2015.
A proposal for the long-term debt has been issued publicly and will be open for consideration at the February 26 council meeting in Germiston.
Members of the public, National Treasury and the Gauteng Provincial Treasury are also invited to submit written comments or representations with regards to the proposed debt.
The purpose of the debt will be to fund the city’s capital expenditure on property, plant or equipment to be used for achieving its objectives.
Municipal bonds will be issued to wholesale investors under a Domestic Medium Term Note Programme listed on the Johannesburg Stock Exchange.
The money will be issued between March and April this year, depending on the investor demand at the time of issuing, and will be repayable up to 2030, depending on the exact date of issue and tenor of bond.
The closing date for the submission of public comments or representations is January 30.
Comments should be directed to the Chief Financial Officer, Ekurhuleni Metropolitan Municipality, PO Box 66, Benoni, 1500.
Alternatively, they can be faxed to 086 580 8493 or emailed to Ramasela.Ganda@ekurhuleni.gov.za.
Any person who cannot write may physically go to the offices during office hours to the 6th Floor, 68 Woburn Avenue, Benoni, where assistance in transcribing that person’s comments or representation will be given. Any enquiries relating to the above should be directed to Tiny Molefe, who can be reached on 011 999 6530.
