Mr. Chairman, from memory, I think there's in excess of $40 million in debentures out to tax-based municipalities in the Northwest Territories. Each time there's a debenture applied for, we do look at it through the Department of Municipal and Community Affairs. I should say that Hay River had a problem some 15 years ago, Mr. Chairman, so it's not as if it's something that's just starting to occur right now. The latest one though, Finance and MACA have been looking at this thing and looking at what happens, how does it occur, what are the remedies, et cetera. I must say that the Department of Finance is paying much more attention to this issue now. There is a measure of whether or not the municipality can repay and can handle the development. I think we're being more vigilant right now and communicating a lot more with tax-based municipalities, Mr. Chairman. Thank you.
John Pollard on Bill 18: Supplementary Appropriation Act, No. 4, 1993-94
In the Legislative Assembly on November 8th, 1994. See this statement in context.
Bill 18: Supplementary Appropriation Act, No. 4, 1993-94
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
November 7th, 1994
Page 850
John Pollard Hay River
See context to find out what was said next.