RESOLVED –
1) That consent be given in principle to the regulations to provide the Combined Authority with the power to borrow for non-transport related functions, as set out in the ‘minded to’ Devolution Deal.
2) That authority be delegated to the Managing Director of the Combined Authority, in consultation with the Leader and Chief Executive of each constituent Council and the Chair of the Combined Authority, to finalise and consent to the final draft of the regulations further to any technical issues which may arise.
3) That it be noted that this decision of Cabinet shall be exempt from Call-In, as agreed by the Chair of Overview and Scrutiny Management Committee, upon grounds of urgency, as set out at para. 1.2 of the report.