We're going to Bill 17, Loan Authorization Act, 1994-95. Mr. Pollard, do you have any opening remarks on this bill?
Introductory Remarks
Bill 17: Loan Authorization Act, 1994-95
In the Legislative Assembly on March 25th, 1994. See this topic in context.
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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The Chair Brian Lewis
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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John Pollard Hay River
Thank you, Mr. Chairman. The purpose of the Loan Authorization Act is to authorize the government to make loans to municipalities and to boards of education. It is a requirement of the Northwest Territories Act that the lending of government funds be authorized by the Legislative Assembly.
Mr. Chairman, this act is an annual act which for the 1994-95 fiscal year will provide the authority to lend up to $8 million. Of this amount, Mr. Chairman, $7 million applies to municipalities and $1 million to boards of education. The authorization for loans to municipalities of $7 million is $1 million less than was authorized in 1993-94.
The municipalities that have identified a requirement for loans include Yellowknife, Norman Wells, Fort Smith, Fort Simpson and Hay River. The municipal purposes for which these loans will be used include the repair of existing municipal property, a recreation complex and limited lot development.
The board of education that has identified a loan requirement is Yellowknife Education District No. 2.
In view of the recent difficulties experienced by two municipalities in repaying debentures, the departments of Municipal and Community Affairs and Finance have carefully reviewed the financial statements of the municipalities in question to ensure that they are financially capable of servicing these loans. There have been no problems with these earlier loans made to boards of education, and financial statements for the board of education covered under this act, have been reviewed. Thank you, Mr. Chairman.
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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The Chair Brian Lewis
Thanks, Mr. Pollard. Chairman of the Standing Committee on Finance.
Standing Committee On Finance Comments
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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Jim Antoine Nahendeh
Thank you, Mr. Chairman. The Standing Committee on Finance reviewed Bill 17, Loan Authorization Act, 1994-95, on March 21, 1994. Members discussed the bill and agreed it should move into committee of the whole for discussion. Thank you, Mr. Chairman.
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 865
The Chair Brian Lewis
Thanks, Mr. Antoine. General comments on this bill. Mr. Antoine.
General Comments
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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Jim Antoine Nahendeh
Thank you, Mr. Antoine. In this act we know that the government will be authorized to loan $7 million to municipalities and $1 million to boards of education. This is down from $8 million in the 1993-94 act, and $9 million in the 1992-93 act. I would just like to ask the Minister a question of how much has been loaned by the government to municipalities in the last two years?
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 865
The Chair Brian Lewis
Do you have that information, Mr. Pollard?
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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John Pollard Hay River
Thank you, Mr. Chairman. In 1993-94, we loaned Fort Smith $335,000, Hay River $1.2 million, Norman Wells $250,000, Yellowknife $5.136 million, for a total of $6.921 million. That was the amount that we had up to date, March 15, 1994.
In 1992-93, we loaned Fort Simpson $67,000 and change, Fort Smith $388,000, Hay River $1.54 million, Yellowknife $2.5 million, for a total of $4.495 million in 1992-93. Over the last two years some $11.3 million, Mr. Chairman.
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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The Chair Brian Lewis
Thank you, Mr. Pollard. Mr. Antoine.
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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Jim Antoine Nahendeh
Thank you. In this act, for the first time the government is planning to loan up to $1 million to boards of education. I believe this has not been done before. In section 4, does the term "boards of education" refer to just the two Yellowknife boards of education or does it also includes the divisional boards of education? Thank you.
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 866
The Chair Brian Lewis
Mr. Pollard.
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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John Pollard Hay River
It applies to just the Yellowknife boards, Mr. Chairman.,
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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The Chair Brian Lewis
Thank you, Mr. Pollard. Mr. Antoine.
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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Jim Antoine Nahendeh
Has this section in the act been introduced for anticipation of future needs by the board, or is it because of a specific loan to a specific board at this time?
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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The Chair Brian Lewis
Thank you. Mr. Pollard.
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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John Pollard Hay River
Mr. Chairman, it's not the first time that the government has loaned one of the boards in Yellowknife money. The last time was in 1973. It's something that has been done before, and it may occur in the future. Thank you, Mr. Chairman.
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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The Chair Brian Lewis
Thank you, Mr. Pollard. General comments. Mr. Antoine.
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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Jim Antoine Nahendeh
Thank you, Mr. Chairman. Maybe the Minister could explain section 4. Is the section that is in place, is it for a specific loan to a special board at this time, or is this act being introduced for anticipation of future needs? Thank you.
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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The Chair Brian Lewis
Thanks, Mr. Antoine. Mr. Pollard.
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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John Pollard Hay River
Mr. Chairman, this loan is to Yellowknife Education District No. 2, $1 million, and it's for their new high school. I think Mr. Antoine is referring to the fact that it's specific in this act that boards of education must not exceed $1 million. Is that the question under section 4?
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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The Chair Brian Lewis
Will you confirm that, Mr. Antoine, please?
Bill 17: Loan Authorization Act, 1994-95
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Jim Antoine Nahendeh
Yes, Mr. Chairman. I think the Minister had already answered that question. We're just wondering what is the purpose of this. Was it specifically for a specific board at this time, or is it for future anticipation? Are we going to see more of this in the future, or is it for this time period alone? Thank you.
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 866
The Chair Brian Lewis
Mr. Pollard.
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
March 24th, 1994
Page 866
John Pollard Hay River
Mr. Chairman, I understand now. I apologize to the Member for being so dumb. Mr. Chairman, yes, it is new in the act. It was done to be able to loan to boards of education. We had an application from a board of education. It had been done some 20 years ago, so it was included in the act to be able to make this particular loan. You see it specified in there this year at $1 million. But it does not preclude another board in Yellowknife coming to us and asking for the same kind of assistance in future years. Thank you, Mr. Chairman.
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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The Chair Brian Lewis
Shall we go clause by clause? Mr. Ballantyne.
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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Michael Ballantyne Yellowknife North
Just a comment, this $1 million is a result of negotiations with the Department of Education for the new Catholic school. The negotiations, I thought, were very, very reasonable. The Catholic school board acknowledged the fact that the territorial government wouldn't have the full funds for the school and they thought they should make a contribution themselves. They made this $1 million contribution which, I might tell Members, will be paid for by the taxpayers of Yellowknife. One-third of my tax bill, as a resident of Yellowknife, goes toward the school boards. We'll end up paying for that $1 million over the next period of years. Thank you, very much, Mr. Chairman.
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 866
The Chair Brian Lewis
Are we finished with general comments?
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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Some Hon. Members
Agreed.
---Agreed
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 866
The Chair Brian Lewis
Shall we go clause by clause?
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 866
Some Hon. Members
Agreed.
---Agreed
Clause By Clause
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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The Chair Brian Lewis
Bill 17, clause 1.
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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Some Hon. Members
Agreed.
---Agreed
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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The Chair Brian Lewis
Clause 2.
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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Some Hon. Members
Agreed.
---Agreed
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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The Chair Brian Lewis
Clause 3.
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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Some Hon. Members
Agreed.
---Agreed
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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The Chair Brian Lewis
Clause 4.
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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Some Hon. Members
Agreed.
---Agreed
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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The Chair Brian Lewis
Clause 5.
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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Some Hon. Members
Agreed.
---Agreed
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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The Chair Brian Lewis
Clause 6.
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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Some Hon. Members
Agreed.
---Agreed
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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The Chair Brian Lewis
Clause 7.
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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Some Hon. Members
Agreed.
---Agreed
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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The Chair Brian Lewis
Clause 8.
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 867
Some Hon. Members
Agreed.
---Agreed
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 867
The Chair Brian Lewis
Clause 9.
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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Some Hon. Members
Agreed.
---Agreed
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 867
The Chair Brian Lewis
Clause 10.
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 867
Some Hon. Members
Agreed.
---Agreed
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 867
The Chair Brian Lewis
Clause 11.
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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Some Hon. Members
Agreed.
---Agreed
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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The Chair Brian Lewis
The bill as a whole.
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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Some Hon. Members
Agreed.
---Agreed
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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The Chair Brian Lewis
Do Members agree that Bill 17 is ready for third reading?
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 867
Some Hon. Members
Agreed.
---Agreed
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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The Chair Brian Lewis
Bill 17 is now ready for third reading. I would like to thank you, Mr. Pollard and Mr. Nielsen for being with us and helping us with this bill.
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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The Chair Brian Lewis
What would the committee like to do next? Mr. Zoe.
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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The Chair Brian Lewis
The motion is in order. To the motion.
Bill 17: Loan Authorization Act, 1994-95
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An Hon. Member
Question.
Bill 17: Loan Authorization Act, 1994-95
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The Chair Brian Lewis
Question has been called. All those in favour? All those opposed? Motion is carried.
---Carried
I'll rise and report progress.
Bill 17: Loan Authorization Act, 1994-95
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
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The Speaker Jeannie Marie-Jewell
I call the House back to order. Item 19, report of committee of the whole. The honourable Member for Yellowknife Centre, Mr. Lewis.