The answer is no. Why would we? That is why you borrow the money. You demonstrate you have a repayable schedule and you repay it. If you are in default, you sue. I am not being flippant, it does not make any sense. If you have a debenture or you have a loan in place, it is not the job of the government to guarantee. These municipalities now have more flexibility than they have had in the past, and if they can demonstrate, and they have to demonstrate it, I do not know whether this is the first one or not, but I know at a personal level, I had a heck of a time convincing the guys to do this because they were going to get it for nothing. The bottom line is, they have to pay it back. They have to demonstrate the capacity to pay it back. My constituency is all going to contribute to it, not just the people in the area, to ensure there is water and sewer in there by them all agreeing to increase the lease costs and paying the government back on a regular basis. Thank you.
John Todd on Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
In the Legislative Assembly on May 28th, 1997. See this statement in context.
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
May 28th, 1997
Page 1184
John Todd Keewatin Central
See context to find out what was said next.