TO HIS HONOUR THE HONOURABLE H. FRANK LEWIS

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TO HIS HONOUR THE HONOURABLE H. FRANK LEWIS LIEUTENANT-GOVERNOR OF PRINCE EDWARD ISLAND

MAY IT PLEASE YOUR HONOUR:

In pursuance of Section 47 of the Financial Administration Act, Revised Statutes of Prince Edward Island, 1988, I beg to submit herewith, for your consideration, a report of borrowing under Section 46 that has been arranged since the last report dated September 30, 2016.

a~

Hon. Allen F. Roach Minister of Finance

CREDIT ACCOMMODATION (1) THE ROYAL BANK OF CANADA Pursuant to Section 46 of the Financial Administration Act, Treasury Board Minute #364/16 dated November 30, 2016 and Order-in-Council EC #2016-826, dated December 6, 2016, authorized the Minister of Finance to borrow a maximum of Twenty Million ($20,000,000.00) Dollars from the Royal Bank of Canada, by way of an overdraft on the Government Operating Fund for the period December 31, 2016 through December 31, 2017. · The amount owing as of March 31, 2017 was NIL.

Department of Finance

March 31,2017

2

r

·.·.

LIST OF TREASURY NOTES ISSUED FROM October.1, 2016 to March 31, 2017

''

l t

Date

I

Dealer

I

Borrowed

I

Maturity Date

I

Term

I

'

Cost

FY2016-2017 October 5, 2016

RBC Dominion Securities

$15,000,000

January 4, 2017

91

$21,300

October 5, 2016

TO Securities

$15,000,000

January 4, 2017

91

$21,300

National Bank Financial

$40,000,000

January 16, 2017

91

$54,800

November 16, 2016

RBC Dominion Securities

$20,000,000

February 14, 2017

90

$28,600

November 16, 2016

Scotia bank

$20,000,000

February 14, 2017

90

$28,600

November 18, 2016

RBC Dominion Securities

$15,000,000

February 16, 2017

90

$21,450

November 18, 2016

CIBC World Markets

$15,000,000

February 16,2017

90

$21,450

December 15,2016

Scotiabank

$40,000,000

March 15, 2017

90

$59,200

January 4, 2017

RBC Dominion Securities

$20,000,000

April18, 2017

104

$35,200

January 4, 2017

RBC Dominion Securities

$20,000,000

April18, 2017

104

$35,800

January 12, 2017

Scotia bank

$15,000,000

April18, 2017

96

$24,600

January 12, 2017

CIBC World Markets

$15,000,000

April18, 2017

96

$24,600

January 16, 2017

CIBC World Markets

$20,000,000

May 16,2017

120

$41,600

January 16, 2017

National Bank Financial

$20,000,000

May 16, 2017

120

$42,000

February 9, 2017

Scotiabank

$10,000,000

May 25,2017

105

$17,800

February 9, 2017

CIBC World Markets

$10,000,000

May 25,2017

105

$17,800

February 9, 2017

TO Securities

$10,000,000

May 25, 2017

105

$17,800

February 15, 2017

CIBC World Markets

$20,000,000

June 6, 2017

111

$37,600

February 15, 2017

TO Securities

$20,000,000

June 6, 2017

111

$37,600

March 14, 2017

CIBC World Markets

$20,000,000

June 20, 2017

98

$32,200

March 14, 2017

Scotia bank

$20,000,000

June 20, 2017

98

$32,200

October 17, 2016

Department of Finance

March 31,2017

3

TO HIS HONOUR THE HONOURABLE H. FRANK LEWIS LIEUTENANT-GOVERNOR OF PRINCE EDWARD ISLAND

MAY IT PLEASE YOUR HONOUR:

In pursuance of Section 30(1) of the Financial Administration Act, Revised Statutes 1988, I beg to submit herewith, for your consideration, a report of all loans and advances under Section 28; and of any defaults on investments, loans and advances under Section 28; and on payments made under Subsection 32 (2), which have occurred since the last report to the Legislature dated September 30, 2016.

Han. Allen F. Roach Minister of Finance

Department of Finance

March31, 2017

4

REPORT OF LOANS AND ADVANCES UNDER SECTION 28 OF FINANCIAL ADMINISTRA TJON ACT ·.

.

.

.

.

..

.



Increase/·· (Decrease)

..

Loan Date

•.

GQMI\IIUNITY OFHUNTER RIVER .

Interest Rate

Maturity

..

Balance

Long-Term December 15, 2016

4.78%

$

December 15, 2041

..

.•. COMMUNITY OF MURRAY RIVER · ·.

Loan Date

.

..

Increase/ ... (Decrease)

Maturity

.Interest Rate

163,200.00

$

163,200.00

.

Balance

Long-Term December 5, 2016

.

·...· ;

.. ~

... . .......

.. "

~-

L.oan:oate· ··•

3.00%

:

.. :<;.

.•

·

:.·

.....

.

~//'-



;:•• 3

October 1, 2021

.··. ~• • •"""

""~""" •v~

.....· EINANCE PEl

.·.·

·•.

;

',•



:

.

. . .. ; .

.:

.

..

..

· ..

increase/ (ri~creasef

'

Interest Rate·

67,800.00

$

• llllaturity

.·· ..

67,800.00

$

.....

...

,, ..

..

. . ... aal~nce

Short-Term

$

9,203,138.83

$

9,440,234.98

$

9,440,234.98

782,560.00

$

10,222,794.98

500,000.00

$

10,722,794.98

$,

12,222,794.98

$

12,222,794.98

$

13,222,794.98

$

13,222,794.98

$

13,722,794.98

$

13,722,794.98

$

13,950,794.98

$

13,950,794.98

200,751.02

$

14,151,546.00

408,570.00

$

14,560,116.00

$ (1,000,000.00)

$

13,560,116.00

October 1, 2016

0.83%

November 1, 2016

October 12, 2016

0.82%

November 1, 2016

November 1, 2016

0.80%

December 1, 2016

November 10, 2016

0.80%

December 1; 2016

$

November 25, 2016

0.83%

December 1, 2016

$

November 28, 2016

0.83%

December 1, 2016

$ 1,500,000.00

December 1, 2016

0.83%

January 1, 2017

December28, 2016

0.85%

January 1, 2017

January 1, 2017

0.85%

February 1, 2017

January 23, 2017

0.89%

February 1, 2017

February 1, 2017

0.89%

March 1, 2017

February 10, 2017

0.87%

March 1, 2017

March 1, 2017

0.87%

April1,2017

March 7, 2017

0.87%

April1, 2017

$

March 31,2017

0.87%

April1, 2017

$

March 31,2017

0.87%

April1, 2017

Department of Finance

$

237,096.15

$ 1,000,000.00 $ $

500,000.00

228,000.00

March31, 2017

5

.

.··.

".

{

FINANCE F'EI

.· .

·.

I•···

'

.

·.

Increase/ . (De¢rease)

llllat~rity

JnterestRate .·

Loan Pate

..

:

Balance .

Long Term March 31,2017

$ 16,700,000.00

March 31, 2032

2.22%

$

16,700,000.00

ISLAND INVESTMENT DEVELOF'NJENT INC . .. ·

.



.

LoariDate

Interest Rate ··

·.·

··

Increase/ (Decrease)

Maturity

Balance

Short-Term

. .

·.

March 1, 2017

0.87%

April1, 2017

$ 1,323,005.00

$

1,323,005.00

March 7, 2017

0.87%

April1, 2017

$

$

1,823,005.00

..

.. :····

: .

..

...

·•l..o~~oate~

pei&rUDENT FINANCIAL ASSISTANCE ·,



,... •.

. ..

..

.

. lnt~fest R•:tte I

~··; .

·MaturitY ·



· . 1



..

500,000.00

.

PROGRAM

Jl1ct~a§i~l · (Decrease)

.. ;

Balan~e

Short-Term October 1, 2016

0.83%

November 1, 2016

$

26,200,000.00

November 1, 2016

0.80%

December 1, 2016

$

26,200,000.00

December 1, 2016

0.83%

January 1, 2017

$

26,200,000.00

January 1, 2017

0.85%

February 1, 2017

$

26,200,000.00

February 1, 2017

0.89%

March 1, 2017

$

26,200,000.00

March 1, 2017

0.87%

April1, 2017

$

26,200,000.00

Department of Finance

March 31, 2017

6

REPORT ON DEFAULTS ON INVESTMENTS, LOANS AND ADVANCES UNDER SECTION 28 OF FINANCIAL ADMINISTRATION ACT

NIL

REPORT ON PAYMENTS MADE UNDER SECTION 32 (2) OF FINANCIAL ADMINISTRA TJON ACT

NIL

Department ofFfuance

March 31, 2017

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TO HIS HONOUR THE HONOURABLE H. FRANK LEWIS

1 TO HIS HONOUR THE HONOURABLE H. FRANK LEWIS LIEUTENANT-GOVERNOR OF PRINCE EDWARD ISLAND MAY IT PLEASE YOUR HONOUR: In pursuance of Section 47 of ...

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