OC2005-723
2005-12-23
Tourism, Culture and Recreation
Financial Administration Act
Under the authority of section 17(2) of the Financial Administration Act, the Lieutenant Governor in Council is pleased to authorize the Minister of Finance to approve the request of the Department of Tourism, Culture and Recreation to settle the debt of the Stephenville Theatre Festival to the Department in the amount of $25,867.33, contingent on the Festival having a new strategic plan, including the development of a business plan, as well as a plan to address its remaining debt, and that the Department enter into a new revenue sharing arrangement with the Festival on a straight 25% of box office revenue or hard costs, whichever is the lesser, for a two year trial period.