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Second Session, 45th General Assembly 54 Elizabeth II, 2005 |
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AN ACT TO AMEND THE LOAN AND |
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Received and Read the First Time |
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Second Reading |
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Committee |
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Third Reading |
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Royal Assent |
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HONOURABLE LOYOLA SULLIVAN Minister of Finance and President of Treasury Board |
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Ordered to be printed by the Honourable House of Assembly |
EXPLANATORY NOTES This Bill would amend the Schedule to The Loan and Guarantee Act, 1957 as follows: Item 1 - Avalon Health Care Institutions Board Order in Council 2004-425 authorized a loan guarantee for the Avalon Health Care Institutions Board, or a successor health authority, to cover that portion of the board's $13.5 million credit facility in excess of $7 million. The maximum amount of the province's guarantee is therefore $6.5 million. The guarantee will terminate on March 31, 2006 or the earlier date that may be appropriate after a plan for deficit reduction has been implemented. Item 2 - Stephenville Airport Corporation Order in Council 2005-066 authorized a loan guarantee not exceeding $350,000 in order to secure additional operating credit for the Stephenville Airport Corporation during the period of its restructuring. The guarantee will be secured through an assignment of the airport's accounts receivables and will terminate once the restructuring process has been completed.
A BILL AN ACT TO AMEND THE LOAN AND Analysis 1. Schedule Amdt. Be it enacted by the Lieutenant-Governor and House of Assembly in Legislative Session convened, as follows: 1957 No.70 as amended 1. The Schedule to The Loan and Guarantee Act, 1957 is amended by adding the following:
©Earl G. Tucker, Queen's Printer |