Harrogate Town Council is to spend over £3,500 on a new set of mayoral chains.
The decision to spend £3,695+VAT on the new chains was agreed by the council in a meeting last Wednesday, following a cost assessment of the insurance of the original heritage chains.
A report from the meeting confirms that the current chains had been valued in June last year and ‘risen substantially with several items of regalia exceeding the £50,000 threshold for withholding their value from the asset register’ due to the increase in gold values.
According to the council, a spend of over £11,000 annually would be required to insure the heritage chains on an ‘all risks’ basis for functions in the community, with further costs needed for security and transport provision.
However, the acquisition of a new set of chains will ensure longer-term cost savings for both the council and taxpayers, the local authority has said.
As part of the move, supporting items such as a case and velvet collar will also be purchased, while the heritage chains are to be preserved and displayed.
