Mr. Chairman, what this bill is going to do is it is going to guarantee the loan that is going to be made by the NWT Energy Corporation. We are unable to go out and make a guarantee or an indemnity on behalf of the government unless we are authorized by this House. So, what this House is going to do is it is going to pass a bill that guarantees the government will stand behind the loan that the Energy Corporation will give and then the Energy Corporation will, in turn, have a further agreement with Dogrib Power to advance those same funds to Dogrib Power. Thank you, Mr. Chairman.
John Pollard on Bill 18: Northwest Territories Energy Corporation Limited Loan Guarantee Act
In the Legislative Assembly on April 6th, 1995. See this statement in context.
Bill 18: Northwest Territories Energy Corporation Limited Loan Guarantee Act
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
April 5th, 1995
Page 880
John Pollard Hay River
See context to find out what was said next.