June 24, 1935

CON

George Halsey Perley (Minister Without Portfolio)

Conservative (1867-1942)

Sir GEORGE PERLEY:

The municipality could incorporate a company the bonds of which they would guarantee, and provide the sixty per cent through that company.

Topic:   PROVISION FOR LOANS BY GOVERNMENT AND LENDING INSTITUTIONS UP TO EIGHTY PER CENT OF COST OF CONSTRUCTION
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LAB

Abraham Albert Heaps

Labour

Mr. HEAPS:

But suppose the municipality wanted to do it as a municipality and to obtain the sixty per cent by the issue of bonds. What I am trying to find out is whether in that oase the government would provide the twenty per cent as in the case of ordinary loan companies, or is the municipality compelled to go to a loan company?

92582-250 i

Topic:   PROVISION FOR LOANS BY GOVERNMENT AND LENDING INSTITUTIONS UP TO EIGHTY PER CENT OF COST OF CONSTRUCTION
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CON

George Halsey Perley (Minister Without Portfolio)

Conservative (1867-1942)

Sir GEORGE PERLEY:

I have answered that there is no power under this bill to deal directly with the municipality.

Topic:   PROVISION FOR LOANS BY GOVERNMENT AND LENDING INSTITUTIONS UP TO EIGHTY PER CENT OF COST OF CONSTRUCTION
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LAB

Abraham Albert Heaps

Labour

Mr. HEAPS:

Should not a municipality be on an equality with these private corporations? I think it is most unfair that a municipality which might wish to go into a building scheme as a municipal enterprise should be practically barred from the benefit of the bill.

Topic:   PROVISION FOR LOANS BY GOVERNMENT AND LENDING INSTITUTIONS UP TO EIGHTY PER CENT OF COST OF CONSTRUCTION
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CON

George Halsey Perley (Minister Without Portfolio)

Conservative (1867-1942)

Sir GEORGE PERLEY:

The ordinary and usual way is for a municipality to form a corporation for such a purpose and to guarantee its bonds. In that way the city

accomplishes all the purposes the hon. gentleman has in mind.

Topic:   PROVISION FOR LOANS BY GOVERNMENT AND LENDING INSTITUTIONS UP TO EIGHTY PER CENT OF COST OF CONSTRUCTION
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CON

Edward Armour Peck

Conservative (1867-1942)

Mr. PECK:

I want to bring that same question up when we come to consider clause 4.

Progress reported.

Topic:   PROVISION FOR LOANS BY GOVERNMENT AND LENDING INSTITUTIONS UP TO EIGHTY PER CENT OF COST OF CONSTRUCTION
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At eleven o'clock the house adjourned without question put, pursuant to standing order. Tuesday, June 25, 1935


June 24, 1935