Government of Saskatchewan
Saturday, May 26, 2018
Publications Centre
Publications Centre
MY Account | View Cart





OC 575/2010 - Issue and Sale of Province of Saskatchewan Debentures to Saskatchewan Power Corporation - $218,488,712.33 (Minister of Finance/Minister Responsible for Saskatchewan Power Corporation)
Description:

Title: Issue and Sale of Province of Saskatchewan Debentures to Saskatchewan Power Corporation - $218,488,712.33

Minister: Minister of Finance and Minister Responsible for Saskatchewan Power Corporation

Summary: Orders that the Minister of Finance of Saskatchewan is approved to advance to Saskatchewan Power Corporation from time to time as may be required for its purposes the sum of $218,448,712.33 plus accrued interest on $200,000,000 principal amount of the Debentures from September 8, 2010 to the date of the advance, being the net sum realized from the issue and sale, pursuant to Your Honour’s Orders 466/2007 dated June 27, 2007 of additional Debentures of the Province of Saskatchewan of Series GC, maturing June 1, 2040 and bearing interest at 4.75% per annum (the “Debentures”) in the principal amount of $200,000,000 under the following terms and conditions:

(a) Saskatchewan Power Corporation shall on the 1st day of June and 1st day of December in each year of the currency of the Debentures pay to the Minister of Finance an amount equal to the amount of the interest due and attributable to the said Debentures;

(b) Saskatchewan Power Corporation shall on the 1st day of June and the 1st day of December in each year of the currency of the Debentures, or as soon thereafter as such charges may be ascertained, pay to the Minister of Finance all bank charges in connection with the payment of interest attributable to the said Debentures;

(c) Saskatchewan Power Corporation shall reimburse the general revenue fund for all expenses incurred in connection with the issue and sale of the said Debentures including printing costs and legal fees;

(d) Saskatchewan Power Corporation shall, on or before the 1st day of June in each year of the currency of the Debentures, commencing on or before the 1st day of June, 2011, pay to the Minister of Finance a sum equal to not less than one per centum (1%) of the aggregate principal amount of the said Debentures outstanding at the time of each such annual payment, with such payments to be deposited in a sinking fund to provide for payment of such Debentures and to be invested as the Lieutenant Governor in Council may determine;

(e) Saskatchewan Power Corporation shall, when the said Debentures are redeemed, pay to the Minister of Finance the amounts required to redeem such Debentures and the amount of all bank charges in connection with such redemption, less the amount available for that purpose from the sinking fund referred to in clause (d); and

(f) Notwithstanding the foregoing terms and conditions, Saskatchewan Power Corporation shall have the right at any time at or prior to the maturity of the said Debentures to repay the advance or any part thereof to the Minister of Finance in a manner and on such terms and conditions as from time to time may be agreed between the Minister of Finance and Saskatchewan Power Corporation.

See: The Financial Administration Act, 1993, section 48
The Power Corporation Act, section 39





Related Products

These publications are related to the currently selected product as determined by the agency cataloguing the document:


May We Suggest...

The following are some but certainly not all products related to the currently displayed product: