Entry Instance

HTTP 200 OK
Allow: GET, PUT, PATCH, DELETE, HEAD, OPTIONS
Content-Type: application/json
Vary: Accept

{
    "id": 1167756,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1167756/?format=api",
    "text_counter": 131,
    "type": "speech",
    "speaker_name": "Sen. Farhiya",
    "speaker_title": "",
    "speaker": {
        "id": 13179,
        "legal_name": "Farhiya Ali Haji",
        "slug": "farhiya-ali-haji"
    },
    "content": "That the total cost of the project is Kshs1.247 billion which is more than the Bond amount. Therefore, this indicates that Kshs86 million will be financed from the County Budget. The Laikipia County Government has accumulated pending bills amounting to Kshs720 million as at December 2021. However, further analysis of the financial performance indicate that it has the ability to repay the cost associated with the proposed Infrastructure Bond issue. This is informed by average annual Own Source Revenue collection for the county’s Kshs500 million. The Equitable Share for the Financial Year 2021/2022 is Kshs5.316 billion and the request for guarantee for Laikipia County sets the precedence for county governments to issue infrastructure bond development and will form a basis for future reference as inform approved for issuance for such bonds. Mr. Speaker, Sir, upon consideration, the Committee recommends that the Senate approves the request by the Cabinet Secretary, National Treasury and Planning for national Government, to guarantee Laikipia County Government to borrow by issuance of Kshs1.16 billion Infrastructure Bond. In conclusion, I thank the Committee Members for their commitment and expeditious consideration of this matter. I, therefore, urge the House to consider and approve this Committee’s Report and set precedence for approval of alternative mechanisms, which county governments may utilize to fund their infrastructure development. Mr. Speaker, Sir, I thank you and ask Sen. Mutula Kilonzo Jnr. to second."
}