Interpretation

In this Act, unless the context otherwise requires“allowance” means money payable under this Act to a councillor or during the time he is a member of the Belmopan City Council; “Belmopan City Fund” means the fund established under section 21; “bond” means a bond issued by the Belmopan City Council with the approval of the Minister responsible for finance and specified in Schedule I; Schedule I. “bond proceeds” means any monies raised by the issue of a bond; “bondholder” means a person in whose name a bond is registered pursuant to regulations made under this Act and to whom a certificate of registration has been issued for a bond; 8 “City of Belmopan” means such area as the Minister may, in consultation with the Council, from time to time by Order published in the Gazette declare to constitute the City of Belmopan, which Order the Minister is hereby empowered to make; “Council” means the Belmopan City Council constituted under this Act; “financial institution” means any financial institution licensed and regulated under the Domestic Banks and Financial Institutions Act; “general election” means an election held by reason of the expiration of the term of office of the Council; “Infrastructure Fund” means the Belmopan City Infrastructure Fund established under section 23B; “member” means a member of the Council and includes the “Minister” means the Minister for the time being responsible for the subject of Local Government, unless otherwise specified; “new Council” means a Council newly constituted after a “rollover” means renewal of a bond by mutual agreement of the Council and bondholders; “Rules”, “Regulations” or “By-laws” means any Rules, Regulations or By-laws made under this Act; “Sinking Fund” means the Belmopan City Municipal Bond Sinking Fund established by section 23D; 9 “treasury security” means a Treasury Bill or Treasury Note as defined in section 2 of the Treasury Bills Act; CAP. 83. “voter” means a person registered as a voter in accordance with this Act. their Qualifications, etc.