Repeals and Savings

(1) The Belmopan (New Capital) Interim Provisions Act is hereby repealed. (2) All Regulations, By-laws, Rules, Orders and other subsidiary legislation made under the repealed Act shall continue in force after the commencement of this Act, until repealed by Regulations, By-laws, Rules, Orders and other subsidiary legislation made hereunder. 55 SCHEDULE I 12 of 2017. Approved Bond Issue [Section 2] The Belmopan City Municipal Bond (Issue No. 1), 2016 authorized by the Council by Resolution dated April 5th 2016. 12 of 2017. SCHEDULE II Specified purposes for Belmopan Infrastructure Fund [Section 23C.] The Council may use monies to the credit of the Infrastructure Fund for any of the following purposes— (a) to retire any existing overdraft facility, debt or liability of the Council (which usage, at any time, is not to exceed $1.5 million in aggregate); (b) to pay for infrastructure works, including the construction or upgrade, excavation, painting or repair of streets and drains and the installation of street lights, sidewalks or any similar types of infrastructure and the carrying out of works and the purchasing of related heavy equipment; (c) to pay for any consultancy services, contractor services or the services of any professional, including any attorney-at-law, auditor, accountant, financial advisor or Bond Trustee used as part of the municipal bond 56 Belmopan City Council programme (not to exceed six percent of the bond proceeds in aggregate of $400,000.00, whichever is the lower); (d) to pay for anything that is made a requirement by this Act, including any publications to be done; and (e) to pay for any building, construction, renovation, beautification, park or playground or other similar project or activity within the City of Belmopan that benefits residents of the City of Belmopan and which the Minister may give prior written approval for.