Thank you, Mr. Chairman. The purpose of allowing a community to approach the government directly would be to allow for an interest rate that would be lower than what is being offered by the banks.
Debates of March 6th, 2002
This is page numbers 389 - 426 of the Hansard for the 14th Assembly, 5th Session. The original version can be accessed on the Legislative Assembly's website or by contacting the Legislative Assembly Library. The word of the day was pension.
Topics
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
Page 419
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
Page 419
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
Page 419
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
Page 419
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
Page 419
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
Page 419
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
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Murray
Thank you, Mr. Chairman. Yes, the debenture program has been going on in the government for many years. We work with Finance in analyzing the submission from a community and then Finance handles the financing.
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
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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
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Floyd Roland Inuvik Boot Lake
Thank you, Mr. Chairman. I am aware of the debenture program. I have been on the town council before in Inuvik and have known that we have had to borrow money, but I have known also that the interest rates at that time were rather extreme and there had to be some negotiation to get those down as interest rates began to drop. My question is, when a community comes to this government to borrow money, what is the interest rate? Is it set? The Minister stated that it would now, in fact, be set lower than what they can get at traditional banks. How long has that been in effect?
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
Page 419
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
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Vince Steen Nunakput
Thank you, Mr. Chairman. I am not aware of how long the program has been in effect, whereby the community can actually obtain a loan directly from the government. However, the purpose of it would be to obtain a lower rate than is being offered by the banks. Obviously, if the government is charging a higher interest rate than the banks, then we would be offering a debenture instead. I presume that is the option that the municipality would choose. Thank you.
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
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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
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Floyd Roland Inuvik Boot Lake
Thank you, Mr. Chairman. I understand the program has been a debenture system, but my understanding from what I have heard from the Minister today is that aside from the normal debenture practice that used to be available, and is still available to municipalities, they can come to this government and obtain a better than prime rate, I guess, loan from this government. How long has that been in place?
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
Page 420
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
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Vince Steen Nunakput
Thank you, Mr. Chairman. Mr. Chairman, I do not have that information with me. I would have to obtain that information for the Member. Thank you.
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
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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
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Floyd Roland Inuvik Boot Lake
Thank you, Mr. Chairman. If I can get that information, that would be good for me. That is all I would request at this time. Thank you.
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
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The Chair David Krutko
We are dealing with lands administration, page 4-25, operations expense, total operations expense, $2,084,000.
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
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Some Hon. Members
Agreed.
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
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The Chair David Krutko
Page 4-29, sport, recreation and youth, operations expense, total operations expense, $1,027,000. Mr. Roland.
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
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Floyd Roland Inuvik Boot Lake
Thank you, Mr. Chairman. Under Municipal and Community Affairs, sport and recreation, there has been some discussion in committee about some work done in this area to try and consolidate the groups, or at least look at what the department is offering. There was some work being done in that area. A paper was developed and put out to organizations for their comment. Where has that gone?
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
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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
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Vince Steen Nunakput
Thank you, Mr. Chairman. Mr. Chairman, we received responses from a number of the sports organizations. However, we are still consolidating and analyzing the responses from the organizations. The department has not met at this level yet as to how we would react to the responses. Thank you.
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
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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
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Floyd Roland Inuvik Boot Lake
Thank you, Mr. Chairman. Is there a time line that you would have for those responses?