Bucks Town Council agrees to borrow 1.2 million dollars for new cemetery and allotments

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The  Buckingham Town Council has agreed to borrow approximately 1,2 million dollars for a new cemetery and allotments. The decision was made during a Town Council  meeting on Monday 30th October 2023  to seek the approval of the Secretary of State for Levelling Up, Housing and Communities to apply for a Public Works Loan Board loan of £1,250,000.  The borrowing term will be of 50 years.

The annual loan repayments will come to around £72,000.

It is also intended to increase the council tax precept for the purpose of the loan repayments by 0.22% which is the equivalent of an additional £2,600 a year.

The required “increase-precept” public consultation has already taken place which resulted in 87% of respondents in favour of the revised proposals and 76% in favour of the required increase in the precept.

Cllr. Anja Schaefer, Mayor of Buckingham, said: “I am pleased that we are now in a position to apply for a public works loan so that we can start developing our much-needed new cemetery and residents can be secure in the knowledge that they will continue to be able to lay their loved ones to rest in Buckingham.”


IMAGE: Buckingham Town Council

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