Obviously, the fund was set up for people in communities without banking or without ability to get direct financing, so I would assume that the loans/mortgages were lent to people who live in communities outside of centres with banks. That is my concern there. My other question is, is this $1 million going to be an ongoing, revolving fund, or is it a one-shot deal? It doesn't say. It is a mortgage/loan fund, but does the money that is recovered go back into the fund with interest, or how is it managed?
Fred Koe on Committee Motion 79-12(4): To Amend Schedule To Bill 1, Carried
In the Legislative Assembly on December 8th, 1993. See this statement in context.
Committee Motion 79-12(4): To Amend Schedule To Bill 1, Carried
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
December 8th, 1993
Page 563
Fred Koe Inuvik
See context to find out what was said next.