#Default on Loan from City of Waterloo

15 messages · Page 1 of 1 (latest)

warped frigate
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Part 1:
The Mayor of Waterloo took a loan at federal bank about a week ago. The loan is now past due. Timo, the mayor of Waterloo is now offline for about 5 days. So the city of Waterloo is without a functional government. Also there seem to be no remaining active citizens of the City to take over official duties.
On behalf of federal government I request the transfer of the due loan from Treasury of Waterloo back to federal bank.

Part 2:
As the city Treasury of waterloo does not seem to have sufficient funds to pay back the loan, I investigated the citys treasury transfers and discovered that the mayor transferred 5000EUR from the treasury to his private company.
As the city of Waterloo has a dysfunctional government I request as the next higher authority (federal) the transfer of illeagally aquired 5000EUR from TnT Company Account back to Waterloo Treasury.

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wet slate
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does this company have that 5k?

warped frigate
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Yes, it does.

wet slate
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Since a direct transfer of funds is the incorrect way to pay for services as a government, that transaction should be undone, and per Federal Law II S4.1 the bank can collect the loan from the bank balance of the entity as necessary. if this company actual did a service and this isnt just corruption, they can pay using a contract board later, but it doesnt seem they will be back for any of that

hardy ether
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This town still exists?

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It should have crumbled by now if it has no active citizens anymore.

warped frigate
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The town still exists. The players are mostly inactive (not active) and not yet abandoned. The city has entered into property crisis, which will probably not be resolved.

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So i assume federal gov is expected to do the transfers via executive action.

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@versed bloom can you do the transfers via executive action?

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5000EUR from TnT Company account to Treasury of Waterloo.

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And all money from treasury of waterloo (which should be 9898 by then) to Federal Bank (only for loans)

versed bloom
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Oh well. Can't transfer money from Waterloo because its bank account is not a gov account from the Federation and it is not held by one of our citizen

wet slate
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Is waterloo part of the federation or does it need to be annexed?

warped frigate