Council resolves to mortgage Mpanga market, to settle debts.

Council resolves to mortgage Mpanga market, to settle debts.

By Francis Tusiime 26/2/2014

Fort Portal

Despite Mpanga Market has not been in habited, Fort Portal Municipal council has resolved to mortgage it’s title to the bank to acquire 100million shillings to settle council debt and also pay environmental impact assessment fees.

The resolution was passed today during a municipality council meeting held The Fort Portal Municipality town clerk Lwanga Edward told council that they have a debts of over 100 million shillings which include 40 million to pay Mrs Bajenja who sued council  and won it for encroaching her land and constructed a road at Harukoto in Fort Portal town, 30 million shillings on environmental impact assessment fee and 40 million shillings to acquire a land title for the land council bought in Kyenjojo District that they are supposed to swap with National Forest Authority (NFA) and also settle other debts.

He revealed that council agreed to swap land that belonged to NFA with in Municipality to be developed but NFA asked for other land outside Fort portal with a land title and also environmental friends.

Because council lacked finance to pay all its outstanding debts and recently the account was freezed because of debts requested council to pass a resolution the market be mortgaged since it’s the only title the council had.

Geofry Mutegeki councilor Bazar ward moved a motion that the market be mortgaged because council will clear off the debt and secure its land title.

Council anonymously passed a resolution that the market title be mortgaged to Housing finance bank and they acquire a loan to settle the debt.