June 24, 1935 (17th Parliament, 6th Session)

LAB

Abraham Albert Heaps

Labour

Mr. HEAPS:

I did not quite hear what the minister said. What I am trying to find out is this: suppose a municipality, say the city of Ottawa, wanted to go into a housing scheme, and were able to obtain the necessary sixty per cent from sources which would give better terms than a lending institution-for instance, it might issue its own bonds at four per cent. Is the oity able to go to the government for the twenty per cent or would it be contravening the terms of the bill if they went outside of the loan companies to obtain those funds?

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