Thank you, Mr. Speaker. I move, seconded by the honourable Member for Nunakput, that Bill 2, Borrowing Authorization Act, be read for the second time. The purpose of the bill is to provide authority to the Commissioner or the Minister or the Comptroller General acting for the Commissioner to borrow money up to a limit of $65 million to ensure that the Consolidated Revenue Fund can meet lawfully authorized disbursements; and to repeal the Temporary Borrowing Authorization Act, S.N.W.T. 1990, c.15 and the Borrowing Authorization Act, S.N.W.T. 1991, c.36.