Tim Lombard (Fine Gael) | Oireachtas source

I welcome the opportunity to comment on section 14, which involves the transfer of the assets and liabilities of one local authority to another. Perhaps the Minister of State might clarify the situation in respect of the value and the process that will be used to value these properties. Some major properties have loans while others do not. How does the Minister of State propose that an equal or genuine value will be put on these properties so the transfer can happen? It is an issue about a balance sheet and ensuring that one local authority could be stuck with a liability for a property that is not in its name. Could the Minister of State clarify how that will work? If a property has been paid off fully, will that be taken into consideration? The value of the property will be transferred. What we do not want is a liability on a local authority for an asset it cannot use.