Thank you, Mr. Chairman. Mr. Chairman, there are two acts at the present time. One is the Temporary Borrowing Authorization Act which is $25 million. It allows us to borrow for purposes of the general fund. The one concerning the loans to municipalities in the amount of $10 million, only six million dollars or a little over six million dollars that was requested from tax based municipalities, Mr. Chairman. That was somewhat difficult to place, and I know it is going to sound silly saying it is a small amount of money, but when you are borrowing in those areas, it was a small amount of money and did not live up to the full amount which we thought was going to be $10 million. So it was not used. Instead, that $6.3 million was taken from the surplus at that time, Mr. Chairman, and loaned to municipalities. Thank you, Mr. Chairman.
John Pollard on Bill 2: Borrowing Authorization Act
In the Legislative Assembly on December 17th, 1991. See this statement in context.
Bill 2: Borrowing Authorization Act
Item 17: Consideration In Committee Of The Whole Of Bills And Other Matters
December 17th, 1991
Page 175
John Pollard Hay River
See context to find out what was said next.