Orders in Council Database

Under the authority of subsections 4(1) and 4(2), and sections 37 and 41 of the Memorial University Act, the Lieutenant Governor in Council is pleased to authorize Memorial University to:
a) proceed with Phase IIA of the development of the Marine Institute’s Holyrood Marine Base, subject to the Government of Newfoundland and Labrador’s 4-stage infrastructure process;
b) lease the Marine Institute’s Southside Marine Base to Irving Oil Limited and to give Irving Oil Limited an option to purchase the Southside Marine Base at the end of the lease;
c) enter into a $12,000,000 commercial capital mortgage to finance Phase IIA of the development of the Marine Institute’s Holyrood Marine Base, to make related expenditures, with funds borrowed and interest to be repaid from revenue from the lease of Marine Institute’s Southside Marine Base to Irving Oil Limited; and
d) make total expenditures related to Phase IIA of the development of the Marine Institute’s Holyrood Marine Base up to $15,279,900.