Orders in Council Database

Under the authority of the Loan and Guarantee Act, 1957, the Lieutenant Governor in Council is pleased to authorize the Minister of Finance to provide a $232,823.73 loan guarantee on behalf of the Labrador Inuit Development Corporation to secure a loan for the purchase of home heating oil and other fuels for the town of Rigolet.  The guarantee is to expire May 31, 2006 and is subject to the following terms and conditions:

  i)  the Labrador Inuit Development Corporation and the Nunatsiavut Government to enter into an agreement with the

Province providing their undertaking to repay the bank indebtedness at the earliest possible date, but in any event not later than

May 31, 2006;

 ii)  such other terms and conditions as the Departments of Finance, Justice, and Labrador and Aboriginal Affairs deem

necessary to secure the Province’s interest; and

iii)  the requirement for payment of a loan guarantee fee is hereby waived.