British Columbia Order in Council — Order under Financial Administration Principle and interest payable for a ten year period is forgiven pursuant to a Debt Settlement Agreement between the Cape Mudge Indian Band Council, Cape Mudge Resort Ltd (O.C. 1047/2000)

O.C. 1047/2000

British Columbia — Orders in Council

Approved and Ordered JUL U 1 tr PROVINCE OF BRITISH COLUMBIA ORDER OF THE LIEUTENANT GOVERNOR IN COUNCIL Order in Council No. 1047 Lieutenant Governor Executive Council Chambers, Victoria On the recommendation of the undersigned, the I ieutenant Governor, by and with the advice and consent of the Executive Council, orders that approval is given to forgive principal and interest payable, in the amount of $227,700.56 each year, for a ten-year period commencing October 31, 2000 (total principal and interest to be forgiven over the ten-year period is $2,277,005.64), pursuant to a Debt Settlement Agreement between the Cape Mudge Indian Band Council, Cape Mudge Resort Ltd. (Resort) and the province, owed to the government by Cape Mudge Resort Ltd. arising under a General Security Agreement (GSA) and a Mortgage of Lease (Mortgage).

The GSA and Mortgage were given to the government as security for a loan granted to the Resort. The amount to be forgiven represents the balance owing under the GSA and the Mortgage by the Resort. Loan Principal Accrued Deferred Compromise Number Balance Interest Interest Settlement JPP-L 15039 $1,500,000.00 $62,634.34 $714,371.30 $Nil Forgiveness $2,277,005.64 Minister of Finance and Corporate Relations •■■•111, 1 ' Presiding Member of the Executive Council ' o bis

part Is /or adminisfralne phiposes only and is not part the (order.) Authority under which Order is made: Act and section: Financial Administration Act,

section Other (specify): c()P 44111) Ills/c701/3 ""±crAtt kci 4t d)- -00-IS

Document details

Collection	British Columbia — Orders in Council
Citation	O.C. 1047/2000
Type	order_in_council
Volume / chapter	arc oic 1047 2000
Language	en
Format	pdf
Source	PROVINCIAL
Identifier	7a588cdabf900b1518faa3bf8324d6e7dc4ae4d4

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