A Leitrim county councillor says he fears housing estates throughout the North West could be affected as a result of bonds for the upkeep of the estates being sold on by financial institutions.
Sinn Fein Councillor Padraig Fallon fears that in such cases, the bonds may not be available to cover work that needs to be done.
He says that in cases where bonds are sold, local authorities may have to go through a whole new process of negotiations with the new owners of the bonds.
Speaking to Ocean FM News, Cllr Fallon says it’s when local residents seek to have an estate taken in charge by the council that it may be discovered the bond has been sold on.
He says this is now the case with one estate in Dromahair, as well as others in North Leitrim.
s that in cases where bonds are sold, local authorities may have to go through a whole new process of negotiations with the new owners of the bonds.
Speaking to Ocean FM News, Cllr Fallon says it’s when local residents seek to have an estate taken in charge by the council that it may be discovered the bond has been sold on.
He says this is now the case with one estate in Dromahair, as well as others in North Leitrim.
