Thank you, Mr. Chairman. I move that clause 2 of Bill 19 be amended by

(a) deleting subclause (5) and by substituting the following:

(5) Section 150 is amended by

(a) striking out ", on the security of debentures," in subsection (1) and by substituting "for a period exceeding one year"; and

(b) deleting subsection (4) and by substituting the following:

(4) The Minister with the approval of the Executive Council may, by order, exempt a long-term borrowing by-law from the approval of the ratepayers required by paragraph (3)(b) where

(a) the money to be secured by way of long-term debt security is to be used to finance a project other than a local improvement; and

(b )the general revenues of the municipal corporation are to bear no part of the cost of the project referred to in paragraph (a).

(5) Notwithstanding that the general revenues of the municipal corporation may bear a part of the cost of a project referred to in paragraph (a), the Minister with the approval of the Executive Council may, by order, exempt a long-term borrowing by-law from the approval of the ratepayers required by paragraph (3)(b) where

(a) the money to be secured by way of long-term debt security is to be used to finance a project other than a local improvement; and

(b)t he Minister is satisfied that the borrowing proposed under the long-term borrowing by-law will result in a net savings to the municipal corporation.

(6) The Minister will the approval of the Executive Council may, by order, exempt a long-term borrowing by-law from the approval of the ratepayers required by paragraph (3)(b) where the money to be secured by way of long-term debt security is to be used to refinance an existing long-term debt security.

(b) deleting subclause (11) and by substituting the following:

(11) Section 156.1 is repealed and the following is substituted:

156.1. A long-term debt security issued or entered into by a municipal corporation to refinance an existing long-term debt security issued or entered into under a long-term borrowing by-law exempted from rate payer approval under subsection 150(6) must have

(a) a principal amount not exceeding the principal amount borrowed under the existing long-term debt security;

(b) a term not exceeding the term of the existing long-term debt security: and

(c) a total amount of principal and interest payable in a year under the refinanced long-term debt security not exceeding the amount of principal and interest that was payable in a year under the existing long-term debt security. Thank you, Mr. Chairman.

Thank you, Madam Minister. The motion is in order. To the motion. Question has been called. Mr. Steen.

To the motion. Mr. Steen.

Thank you, Mr. Steen. To the motion. Question has been called. All those in favour? All those opposed? The motion is carried. Part 2, clause 2 as amended. Agreed?

Agreed.

Thank you. Page 7, part three, clause 3. Do we agree?

Agreed.

Thank you. Part 4, clause 4, Bill 19.

Agreed.

Agreed. Thank you. Bill as a whole?

Agreed.

Thank you. Does the committee agree that Bill 19 is ready for third reading as amended.

Agreed.

Thank you. Bill 19 is now ready for third reading as amended. That concludes this particular item. I would like to thank the Minister and the witnesses on behalf of the committee. Thank you. I would like to ask the committee, what is the wish of the committee? What do you want to do from here on? Mr. Miltenberger.

Thank you. There is a motion on the table to report progress and is not debatable. All those in favour? There is a motion but we do not have a quorum so I

will ring the bell. We have a quorum. There is a motion on the floor to report progress. All those in favour? All those opposed? The motion is carried. I will rise and report progress to the Speaker. Thank you.

The House will come back to order. Item 20, report of committee of the whole. Mr. Ningark.

Thank you, Mr. Speaker. The committee has been considering Bill 19 and would like to report progress with one motion being adopted. Bill 19 is ready for third reading as amended. Mr. Speaker, I move that the report of the committee of the whole be concurred with. Thank you.

Second by the Member for Inuvik. The motion is in order. To the motion. Question has been called. All those in favour? All those opposed? The motion is carried. Item 21, third reading of bills. Mr. Clerk, orders of the day.

Mr. Speaker, meeting of the Western Caucus and the Nunavut Caucus at 4:00 p.m. this afternoon. Meetings for Wednesday morning at 9:00 a.m. of the Infrastructure Committee and also at 9:00 a.m. of the Standing Committee on Resource Management and at 11:00 a.m. of the Ordinary Members' Caucus and at 12:00 noon of the Standing Committee on Social Programs.

Orders of day for Wednesday, October 8.

1. Prayer

2. Ministers' Statements

3. Members' Statements

4. Returns to Oral Questions

5. Recognition of Visitors in the Gallery

6. Oral Questions

7. Written Questions

8. Returns to Written Questions

9. Replies to Opening Address

10. Petitions

11. Reports of Standing and Special Committees

12. Reports of Committees on the Review of Bills

13. Tabling of Documents

14. Notices of Motion

15. Notices of Motions for First Reading of Bills 16. Motions

17. First Reading of Bills

- Bill 23, An Act to Amend the Elections Act

- Bill 24, An Act to Amend the Financial Administration Act

- Bill 25, Supplementary Appropriation Act, No. 2, 1997-1998

18. Second Reading of Bills

19. Consideration in Committee of the Whole of Bills and Other Matters

- Bill 3, Family Law Act

- Bill 4, Children's Law Act

- Bill 5, Adoption Act

- Bill 6, Child and Family Services Act

- Committee Report 8

20. Report of Committee of the Whole

21. Third Reading of Bills

- Bill 19, Municipal Statutes Amending Act, No. 2

22. Orders of the Day.

Thank you, Mr. Clerk. This House stands adjourned until Wednesday, October 8, 1997, at 1:30 p.m.

--ADJOURNMENT