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Monday, April 29, 2013

More Evidence Supporting The £100K Council Bond


Another piece of evidence supporting the existence of the £100k bond lodged with Herefordshire Council by Formsole has emerged.

Recently the Council has said that it can't find any trace of the bond which was lodged with them circa 1998.

However in a letter from developers Chelverton dated January 14th 2002, to council leader, at the time, Terry James there is mention of the bond.

In the letter written by Simon Morgan of Chelverton there is a section which details financial assistance given by Formsole to Hereford United.

In that section one of the clauses says: Co-operating in the partial release of the Council bond to allow improvements to be undertaken to the Supporters Club building.

It's almost certain that refers to the £17K or so which the Council gave Graham Turner noted by the press in 2001.

So it's reasonable to assume there is £83K remaining somewhere in the coffers of Herefordshire Council.

That £83K would go someway to meeting the current demands on Hereford United for unpaid wages, PAYE, NI and VAT.

Meanwhile there is speculation that chairman David Keyte may make a further statement about the financial situation at Hereford United in the next few days, possibly as early as later today.