Part 8 — Financial Administration
264 Loans and Guarantees Purpose of loans and guarantees
repayment of a loan if
(a) the loan or guarantee is made under subsection (2) or (3),
(b) the loan is made to one of its controlled corporations, or
(c) the guarantee is made in res pect of a loan between a lender
and one of its controlled corporations.
(2) A municipality may
(a) lend money to a non-profit organization, or
RSA 2000
(b) guarantee the repayment of a loan between a lender and a
non-profit organization
if the council considers that the money loaned or money obtained
under the loan that is guaranteed will be used for a purpose that
will benefit the municipality.
(3) A municipality that intends to purchase gas from and become a
shareholder of the designated seller within the meaning of section
30(1) of the Gas Distribution Act, SA 1994 cG-1.5 as it read on
June 30, 1998, may make a loan to the designated seller as part of
the capitalization of the designated seller by its shareholders.
1994 cM-26.1 s264;1998 c26 s13