Thank you, Madam Chair. The agreement is over a 10-year period, and it reduces every year on the principal amount. This year, as identified, we are seeking $120,000 as part of our budget, and it drops; for example, 2005-06 would be $105,000, and then the following year $90,000. So it drops every year. The interest that we would forego is $790,000 over the term of the agreement of 10 years. Again, we do get our principal back of $2.6 million. Thank you.
Floyd Roland on Committee Motion 2-14(5): Options For Measures To Stabilize Power Subsidy Costs, Carried
In the Legislative Assembly on March 22nd, 2004. See this statement in context.
Committee Motion 2-14(5): Options For Measures To Stabilize Power Subsidy Costs, Carried
Item 20: Consideration In Committee Of The Whole Of Bills And Other Matters
March 21st, 2004
Page 133
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