Eoghan Murphy (Dublin South East, Fine Gael)
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I would like to continue on the minutes of the meeting of 24 October.

The sanction that came from the Department of the Environment, Community and Local Government which had come through the Department of Finance re ministerial approval of property acquisitions in the Dublin docklands stated there was approval for borrowing by the authority up to the statutory limit of €127 million. It also stated, with the consent of the Minister for Finance, the Department was giving approval for the taking by the authority of a shareholding in a joint venture company.

When Mr. Maloney met Mr. McNamara on 23 October, he brought Mr. Lar Bradshaw , the chairman, because he believed this was the biggest decision for the board to make. The minutes state, “The executive recommends that the authority should make a joint bid”. Earlier we discussed the meeting of 3 October when the executive recommended formal negotiations be opened on making a bid.