Huh? Huh?
The council is increasing the capital of its investment company by $850m. (Ch39)
### dunedintv.co.nz June 30, 2015 – 7:24pm
DCC takes ownership of Dunedin Venues Limited
City councillors have voted for the organisation to take on an extra $30m of debt. That’s being transferred today from Dunedin Venues Limited. Councillors have also approved the equivalent payment of DVL shares, to repay the debt. And they’ve voted for the council to take ownership of the company, as well as Dunedin Venues Management Limited, for the new financial year.
Ch39 Link [no video available]
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Posted by Elizabeth Kerr
Filed under Business, CST, DCC, DCHL, DCTL, DVL, DVML, Economics, Highlanders, Hot air, Media, Name, New Zealand, NZRU, OAG, ORFU, People, Politics, Project management, Property, Site, Sport, Stadiums
Tagged as Audit NZ, Bullshit, Council debt CRISIS, Creative accounting, DCC, DCHL, DCTL, Dickhead Councillors, Dunedin, Dunedin City Council, Dunedin City Holdings Ltd, Dunedin City Treasury Ltd, Dunedin Venues Ltd, Dunedin Venues Management Ltd, DVL, DVML, FIASCO, fubar stadium, Lack of accountability, Lack of transparency, NO Business Ethics, Otago Stadium, PROFESSIONAL RUGBY, Ratepayers and Residents, Stadium costs +$20M pa, Stadiums, Terry Davies