Thank you, Mr. Chairman. Mr. Chairman, the purpose of the NWT Energy Corporation Limited Loan Guarantee Act is to guarantee loans to the NWT Energy Corporation Limited. There is a requirement, Mr. Chairman, of the Financial Administration Act, that no person shall make a guarantee or indemnity for or on behalf of the government unless authorized by an enactment to do so.
The total borrowings contemplated by the NWT Energy Corporation Limited is $25 million and the funds are to be used to lend to the Dogrib Power Corporation for construction of the Snare Cascades project. The principal amount of loan guarantees under this act must not exceed $25 million, Mr. Chairman. I would be glad to try to answer anyone's questions. Thank you.