Thank you, Mr. Chairman. I apologize if I have caused confusion. What it means is this is borrowed money. It would be $50 million less debt. We had booked $150 million. We had budgeted $150 million because we didn’t know what the federal government was going to put in other than the $150 million. The project cost was $300 million, so for planning purposes, until we knew what the federal number was, we budgeted $150 million of our money to go towards that project until we knew what the final federal dollar was going to be. Now that we know it’s $200 million, that means we have $50 million of less debt that we’re not going to have to take on to pay for 50 percent of the project. We’re only paying for 33.5 percent. Thank you.
Michael Miltenberger on Consideration in Committee of the Whole of Bills and Other Matters
In the Legislative Assembly on March 11th, 2013. See this statement in context.
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
March 10th, 2013
See context to find out what was said next.