OC2006-602
2007-01-03
Municipal Affairs
Local Authority Guarantee Act, 2005
The Lieutenant Governor in Council approves the following:
1. Under authority of the Local Authority Guarantee Act, 2005, and upon the recommendation of the Minister of Municipal Affairs, the Minister of Finance is authorized to issue such Government guarantees as may be required to enable the Town of Trout River to borrow from a chartered bank, or other financial institution, an amount not exceeding $113,461, plus related accrued interest, for the purpose of financing the installation, including engineering and related costs, of a water and/or sewer project.
2. The said loan of $113,461, plus accrued interest, is to be repaid on a date to be designated by the Honourable Minister of Municipal Affairs, out of the Budget provision of the Department.