Order under Public Service Act Finance Act — approve the Minister of Transportation and Infrastructure Renewal on behalf of Her Majesty the Queen in Right of the Province of Nova Scotia entering into a fun
O.C. 17732/2016
Nova Scotia — Orders in Council
OIC Number: 2016 - 71
Date of Order: Mar 24, 2016
Statute: Public Service Act Finance Act
OIC Text: The Governor in Council on the report and recommendation of the Minister of Transportation and Infrastructure Renewal dated March 23, 2016, and pursuant to
Section 6 of
Chapter 376 of the Revised Statutes of Nova Scotia, 1989, the Public Service Act , and
Section 77 of
Chapter 2 of the Acts of 2010, the Finance Act , is pleased to: (
a) approve the Minister of Transportation and Infrastructure Renewal on behalf of Her Majesty the Queen in Right of the Province of Nova Scotia entering into a funding agreement with Bay Ferries Limited, with respect to the operation of a ferry service for passengers and vehicles between Yarmouth and Portland, Maine, substantially in the form set forth in
Schedule “A” attached to and forming part of the Report and Recommendation; (
b) approve the Minister of Transportation and Infrastructure Renewal on behalf of Her Majesty the Queen in Right of the Province of Nova Scotia entering into a Standby Letter of Credit Agreement with the Royal Bank of Canada respecting a letter of credit in the amount of five million dollars, United States currency, ($5,000,000 USD) to be issued by the Bank for the benefit of the United States Department of Navy, Military Sealift Command (“Navy”) to secure Navy against a default by Bay Ferries Limited under the charter party for the vessel HST2 (the “Charter Party”), substantially in the form set forth in
Schedule “B” attached to and forming part of the Report and Recommendation; and (
c) approve the Minister of Transportation and Infrastructure Renewal on behalf of Her Majesty the Queen in Right of the Province of Nova Scotia providing a letter of assurance to Navy respecting the terms under which the Letter of Credit as referred to in paragraph (
b) of this Order will be procured for the benefit of Navy, substantially in the form set forth in
Schedule “C” attached to and forming part of the Report and Recommendation.
Department(s): Transportation and Infrastructure Renewal