Orders in Council Database

 Under authority of The Local Authority Guarantee Act, 1957, the Lieutenant Governor in Council is pleased to approve the proposal of the Town of Chance Cove to borrow from a chartered bank, or other financial institution, an amount not exceeding $182,101 for the purposes of financing the installation, including engineering and related costs of a water and/or sewer project, together with the amount required to capitalize the related accrued interest on the project up to the date of substantial completion of the project, and for an additional period of six months beyond that date, if required.

2.  The Newfoundland Municipal Financing Corporation is directed to advance to the Town of Chance Cove on a date to be designated by the Honourable the Minister of Municipal and Provincial Affairs, an amount not exceeding $182,101 together with the amount required to capitalize the related accrued interest on the project up to the date of substantial completion of the project, and for an additional period of six months beyond that date, if required, for the purpose of repaying the loan approved; the said loan by the Corporation to be repaid by the Department of Municipal and Provincial Affairs, out of the Budget provision of the Department, over such a period as may be agreed upon by the Honourable the Minister of Municipal and Provincial Affairs and the Newfoundland Municipal Financing Corporation.