Five million pounds loaned to Northamptonshire County Council has been repaid on time with interest.
The money was returned to Leicestershire County Council today in line with the agreed terms.
We take very seriously the security of our loans. Our track record is strong and unlike other councils, we did not have any money with Icelandic banks or other high profile bank failures.Person:Deputy council leader, Byron Rhodes
Making the most of every pound we spend remains vital and lending money enables us to maximise our income.
Local authorities across the country loan money to organisations in the public and private sector.
The County Council ploughs the return – £35,000 in this instance - back into services.