British Columbia Order in Council — Order under Financial Administration Forgiveness of liabilities, $1,506,694 (O.C. 17/2001)

O.C. 17/2001

British Columbia — Orders in Council

PROVINCE OF BRITISH COLUMBIA ORDER OF THE LIEUTENANT GOVERNOR IN COUNCIL Order in Counbil 17 , Approved and Ordered JAN F Lieutenant Governor Executive Council Chambers, Victoria On the recommendation of the undersigned, the Lieutenant Governor, by and with the advice and consent of the Executive Council, orders that approval is given to the forgiveness of liabilities, in the amount of $1,506,694.14, owed to the government by Stikine Nation Power Corporation (SNPC) and Tahltan Nation Development Corporation (TNDC) (Guarantor) arising under a General Security Agreement (GSA), Mortgage and Guarantee.

The GSA, Mortgage and Guarantee were given to the government as security for a loan granted to SNPC. The amount to be forgiven represents the residual balance owing under the GSA and Mortgage and the Guarantee of TNDC, after acceptance of a compromise settlement offer in the amount of $400,000.00. Loan Principal Accrued Deferred Compromise Number Balance Interest Interest Settlement Forgiveness ADH-L 50026 $1,324,254.01 $ Nil $182,440.13 $400,000.00 $1,506,694.14 / 744 Minister of finance and C porate Relations Presiding ember of the Executive Council titri.1

part is firr adtmnistrative purposes old\ ,end is trot part at Order I Authority under which Order is made: Aci .aid

section Financial Administration Act,

section other (speedy): ,oe41141, c - 00 — 1J/0100h 3

Document details

Collection	British Columbia — Orders in Council
Citation	O.C. 17/2001
Type	order_in_council
Volume / chapter	arc oic 0017 2001
Language	en
Format	pdf
Source	PROVINCIAL
Identifier	1245530e0c37f108466b3aace0795a47d36c40bf

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