Thank you, Mr. Speaker. Good afternoon. Mr. Speaker, this is a response to a question asked by Mr. Lewis on February 17th concerning bonds. Mr. Speaker, on February 17th, the honourable Member from Yellowknife Centre asked whether the government had the authority to issue government bonds, as do the provinces. I can now confirm that the GNWT does indeed have this authority.

Mr. Speaker, the Northwest Territories Act (Canada) and the Northwest Territories Borrowing Authorization Act provide that the government may borrow in several different ways. It may borrow by way of overdraft, term note, debenture loan, promissory note, or other long-term arrangement. The decision as to which borrowing instrument is appropriate is determined by such criteria as the duration of the borrowing required, interest rates applicable to specific instruments, purpose for which the borrowing is being undertaken and the administrative costs associated with a particular type of borrowing. Thank you, Mr. Speaker.