Government of Saskatchewan
Thursday, February 21, 2019
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OC 494/2008 – Establish an Increased Temporary Loans Borrowing Authority for Saskatchewan Power Corporation (Line of Credit) to $750,000,000 (Minister of Finance/Minister of Crown Corporations)
Description:

Title: Establish an Increased Temporary Loans Borrowing Authority for Saskatchewan Power Corporation (Line of Credit) to $750,000,000

Minister: Minister of Finance and Minister of Crown Corporations

Summary:
A) Repeal Your Honour’s Order 1103/86, dated November 26, 1986;

B) Approve the borrowing from time to time by Saskatchewan Power Corporation for its purposes by way of temporary loans from the Province of Saskatchewan or from any chartered bank, trust corporation licensed pursuant to The Trust and Loan Corporations Act, 1997 or credit union incorporated or continued pursuant to The Credit Union Act, 1998, or amounts not exceeding in the aggregate principal sum of seven hundred and fifty million dollars ($750,000,000) at any time outstanding, in such manner and on any terms and conditions that Saskatchewan Power Corporation may determine; and

C) Approve the advance of money from time to time out of the general revenue fund by the Minister of Finance to Saskatchewan Power Corporation for its purposes, of amounts not exceeding in the aggregate the principal sum of seven hundred and fifty million dollars ($750,000,000) at any time outstanding, upon the security of promissory notes of the Corporation with interest at the rate stipulated by the Minister of Finance in each such promissory note.

See: The Power Corporation Act (Subsection 40(9)) and The Financial Administration Act, 1993 (Section 39)





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