Motions

WHEREAS it is provided by section 3(1) of the Development Loans Act that the Government is authorized, for the purpose of -

• (a) financing general development in Trinidad and Tobago;
• (b) repayment of borrowings effected for such general development; or
• (c) repayment of borrowings effected for general development−
  • i. by a statutory authority within the meaning of the Statutory Authorities Act;
  • ii. by an enterprise that is controlled by or on behalf of the State; or
  • iii. by the University of the West Indies,

to borrow from time to time money externally or internally in a sum or sums not exceeding in the aggregate forty five thousand million dollars in the currency of Trinidad and Tobago;

AND WHEREAS it is also provided in the said section 3(1), that thereafter such sum in such currency may from time to time be specified by Resolution passed by the Senate and the House of Representatives;

AND WHEREAS it is necessary for the Government to borrow further sums of money for the purposes stated in the said section;

BE IT RESOLVED that for the purposes stated in the said section, the Government is hereby authorized to borrow money externally or internally in a further sum or in further sums not exceeding in the aggregate ten thousand million dollars in the currency of Trinidad and Tobago.

(By the Minister of Finance)