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I-14 - The Education Act for Cree, Inuit and Naskapi Native Persons

Section 225
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225. The Minister of Education, Recreation and Sports may, under such terms and conditions as he may determine, grant, on behalf of the Government, a subsidy to any school board in order to provide, in whole or in part, out of the funds voted annually for such purposes by Parliament, for the payment in principal and interest of any loan contracted or to be contracted by the school board.
He may deposit in the hands of the Minister of Finance, to be managed by him, all amounts intended for the payment in principal and interest of the debentures issued by the school board, in order to constitute a sinking fund for the purposes of paying, out of such amounts, at the maturities under the terms of the loan, the principal of the debentures, and, out of the proceeds or revenue of the fund, the loans of any school board.
Section 13 does not apply to a subsidy contemplated in the first paragraph.
R. S. 1964, c. 235, s. 236; 1965 (1st sess.), c. 67, s. 9; 1979, c. 72, s. 345; 1981, c. 27, s. 10; 1982, c. 32, s. 112; 1982, c. 58, s. 34; 1993, c. 51, s. 72; 1994, c. 16, s. 50; 2005, c. 28, s. 195.
225. The Minister of Education may, under such terms and conditions as he may determine, grant, on behalf of the Government, a subsidy to any school board in order to provide, in whole or in part, out of the funds voted annually for such purposes by Parliament, for the payment in principal and interest of any loan contracted or to be contracted by the school board.
He may deposit in the hands of the Minister of Finance, to be managed by him, all amounts intended for the payment in principal and interest of the debentures issued by the school board, in order to constitute a sinking fund for the purposes of paying, out of such amounts, at the maturities under the terms of the loan, the principal of the debentures, and, out of the proceeds or revenue of the fund, the loans of any school board.
Section 13 does not apply to a subsidy contemplated in the first paragraph.
R. S. 1964, c. 235, s. 236; 1965 (1st sess.), c. 67, s. 9; 1979, c. 72, s. 345; 1981, c. 27, s. 10; 1982, c. 32, s. 112; 1982, c. 58, s. 34; 1993, c. 51, s. 72; 1994, c. 16, s. 50.
225. The Minister of Education and Science may, under such terms and conditions as he may determine, grant, on behalf of the Government, a subsidy to any school board in order to provide, in whole or in part, out of the funds voted annually for such purposes by the Legislature, for the payment in principal and interest of any loan contracted or to be contracted by the school board.
He may deposit in the hands of the Minister of Finance, to be managed by him, all amounts intended for the payment in principal and interest of the debentures issued by the school board, in order to constitute a sinking fund for the purposes of paying, out of such amounts, at the maturities under the terms of the loan, the principal of the debentures, and, out of the proceeds or revenue of the fund, the loans of any school board.
Section 13 does not apply to a subsidy contemplated in the first paragraph.
R. S. 1964, c. 235, s. 236; 1965 (1st sess.), c. 67, s. 9; 1979, c. 72, s. 345; 1981, c. 27, s. 10; 1982, c. 32, s. 112; 1982, c. 58, s. 34; 1993, c. 51, s. 72.
225. The Minister of Education may, under such terms and conditions as he may determine, grant, on behalf of the Government, a subsidy to any school board in order to provide, in whole or in part, out of the funds voted annually for such purposes by the Legislature, for the payment in principal and interest of any loan contracted or to be contracted by the school board.
He may deposit in the hands of the Minister of Finance, to be managed by him, all amounts intended for the payment in principal and interest of the debentures issued by the school board, in order to constitute a sinking fund for the purposes of paying, out of such amounts, at the maturities under the terms of the loan, the principal of the debentures, and, out of the proceeds or revenue of the fund, the loans of any school board.
Section 13 does not apply to a subsidy contemplated in the first paragraph.
R. S. 1964, c. 235, s. 236; 1965 (1st sess.), c. 67, s. 9; 1979, c. 72, s. 345; 1981, c. 27, s. 10; 1982, c. 32, s. 112; 1982, c. 58, s. 34.
225. The Minister of Education may, under such terms and conditions as he may determine, grant, on behalf of the Government, a subsidy to any school board in order to provide, in whole or in part, out of the funds voted annually for such purposes by the Legislature, for the payment in principal and interest of any loan contracted or to be contracted by the school board.
Section 13 does not apply to a subsidy contemplated in the first paragraph.
R. S. 1964, c. 235, s. 236; 1965 (1st sess.), c. 67, s. 9; 1979, c. 72, s. 345; 1981, c. 27, s. 10; 1982, c. 32, s. 112.
225. The Minister of Education may, under such terms and conditions as he may determine, grant, on behalf of the Government, a subsidy to any school board in order to provide, in whole or in part, out of the funds voted annually for such purposes by the Legislature, for the payment in principal and interest of any loan contracted or to be contracted by the school board.
R. S. 1964, c. 235, s. 236; 1965 (1st sess.), c. 67, s. 9; 1979, c. 72, s. 345; 1981, c. 27, s. 10.
225. The school commissioners or trustees may, pending the collection of the school taxes or assessments or the receipt of a subsidy or grant, by mere resolution, contract temporary loans, by means of notes.
R. S. 1964, c. 235, s. 236; 1965 (1st sess.), c. 67, s. 9; 1979, c. 72, s. 345.
225. The school commissioners or trustees may, pending the collection of the school taxes or assessments or the receipt of a subsidy from the Province, by mere resolution, contract temporary loans, by means of notes, for a period not exceeding six months, and on such conditions as they determine. Section 220 shall not apply to such loans.
R. S. 1964, c. 235, s. 236; 1965 (1st sess.), c. 67, s. 9.
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