It has been reported that Colchester County Council has voted 6-5 in favour of setting aside $500,000 and earmarking it for the possible purchase of the grounds and facilities at the Nova Scotia Provincial Exhibition.
The news comes courtesy of a report by the Truro Daily News which states that if the deal between the county and the NSPE Board goes through, the exhibition would be able to pay off a $400,000 debt it currently owes to the Nova Scotia Farm Loan Board.
The loan board currently holds the deed to the exhibition. Members of the new NSPE Board are skeptical of the plan, even though the previous board voted in favour of the plan.
Earlier this week, the NPSE Commission’s new chairman, Bruce Kennedy, stated that the NSPE’s debt is more than just what is owed to the farm loan board, and therefore the deed shouldn’t be transferred around. The NPSE still owes various tracks money for simulcast payments. “And that’s why we’re saying, the debt is more than to the farm load board,” said Kennedy. “So how do these other people (the other tracks that a debt is still owed to) ever get paid?”
(With files from the Truro Daily News)
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