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| £120m scheme 'funded by Iceland' | £120m scheme 'funded by Iceland' |
| (about 1 hour later) | |
| A £120m project to build or refurbish 10 Aberdeen schools is being funded by money from a collapsed Icelandic bank, it has emerged. | A £120m project to build or refurbish 10 Aberdeen schools is being funded by money from a collapsed Icelandic bank, it has emerged. |
| The Icelandic government seized control of Landsbanki earlier this week. | The Icelandic government seized control of Landsbanki earlier this week. |
| So far the council has not commented on the impact of the Landsbanki collapse on the project or the extent of the bank's involvement in the deal. | So far the council has not commented on the impact of the Landsbanki collapse on the project or the extent of the bank's involvement in the deal. |
| Five other Scottish councils have confirmed they have money on deposit with banks in Iceland. | Five other Scottish councils have confirmed they have money on deposit with banks in Iceland. |
| South Lanarkshire has £7.5m with Landsbanki and its UK subsidiary Heritable. | |
| 'No effect' | |
| A spokesman for the council said it had asked the Treasury for an assurance over the safety of its deposits. | |
| He said: "The council makes it clear that the situation will have no effect on the delivery of its day-to-day services or on the council tax." | |
| South Ayrshire Council has invested £5m in Landsbanki which the authority says is due to be returned in stages over the next two months. | |
| The council's chief executive, David Anderson, said: "We will continue to monitor the position and will continue to seek advice from our treasury advisers." | |
| North Ayrshire Council had an unconfirmed amount invested in Iceland. | North Ayrshire Council had an unconfirmed amount invested in Iceland. |
| Moray Council had £2m in Landsbanki, while Perth and Kinross had £1m with the Glitnir Bank. | Moray Council had £2m in Landsbanki, while Perth and Kinross had £1m with the Glitnir Bank. |
| Aberdeen City Council signed a public private partnership agreement with a consortium in February. | Aberdeen City Council signed a public private partnership agreement with a consortium in February. |
| The deal involved the consortium designing, building, financing and operating the schools over 30 years. | The deal involved the consortium designing, building, financing and operating the schools over 30 years. |
| Under the project, two new secondaries and seven new primaries will be built, with another primary being refurbished. | Under the project, two new secondaries and seven new primaries will be built, with another primary being refurbished. |