Thank you, Mr. Chairman. The Standing Committee on Government Operations reviewed Bill 9, Loan Authorization Act, 1998-99, at its meeting on February 23 and 24, 1998. The committee would like to thank the Minister of Finance and his officials for presenting this bill.

This bill would authorize the government to make up to $1 million in loans to municipalities in 1998-99. This amount is considerably smaller than previous years, as municipalities are now able to access private market lending sources. The committee appreciates the importance of this bill in providing financing for the NWT municipalities. Mr. Chairman, committee Members may have additional comments or questions on this bill during the review in committee of the whole. This concludes the report of the Standing Committee on Government Operations on Bill 9, Loan Authorization Act, 1998-99. Thank you, Mr. Chairman.