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OC 179/2014 - The Global Transportation Hub Authority – Set Maximum Borrowing Limit to $75,000,000 (Minister Responsible for The Global Transportation Hub Authority/Minister of Finance)
Description:

Title: The Global Transportation Hub Authority – Set Maximum Borrowing Limit to $75,000,000

Minister: Minister Responsible for The Global Transportation Hub Authority and Minister of Finance

Summary: Orders that:

(a) Your Honour’s Order 492/2009, dated June 24, 2009, is amended by deleting paragraph (h) and substituting the following: “(h) that $75,000,000 (seventy five million dollars) is fixed for the purposes of section 42 as the amount above which the corporation may not borrow money.”

(b) The Global Transportation Hub Authority is approved to borrow from time to time for its purpose, by way of temporary loans, bank overdraft or line of credit 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, amounts not exceeding in the aggregate the principal sum of $75 million.

See: The Global Transportation Hub Authority Act, sections 40 and 42





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