Motions
Increase in Borrowing – Development Loans Act
- 1st Session - 9th Republican Parliament
WHEREAS it is provided by section 3(1) of the Development Loans Act, that the Government is authorized, inter alia, for the purposes of financing general development in Trinidad and Tobago or repayment of borrowings effected for general development, inter alia, by a statutory authority within the meaning of the Statutory Authorities Act, Chap. 24:01 or by an enterprise that is controlled by or on behalf of the State, from time to time to borrow money externally or internally in a sum or sums not exceeding in the aggregate thirteen thousand million dollars in the currency of Trinidad and Tobago and thereafter such sum in such currency as 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 sums not exceeding in the aggregate seven thousand million dollars in the currency of Trinidad and Tobago.
(By the Minister of Finance)
