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From there, the Senate moved on to bills brought from the House of Representatives, and among those was the Belize City Council (Municipal Paper) Bill. 

AS we told you, this one will allow Mayor Bernard Wagner and the current PUP Administration to sell bonds commercially, which will give them more cash flow at rates cheaper than commercial borrowing.

You'll have noticed that several of the Senators kept returning back to the fact that they knew very little due to the lack of background information provided by the Government on the 3 previous loan motions.

It was during the Senate's debate on the Municipal Paper that Attorney General Michael Peyrefitte suggested that the complaining senators were only doing so because they were taking a partisan, anti-government approach. Here's how he made that point this afternoon:

Hon. Michael Peyrefitte - Attorney General
"Mr. President, where is the cry for all the details? Where are the details? What projects will the Belize City Council be doing, building how many streets, how many bridges, what size - how come you don't need details now? How come you don't need details now!? The details people where are you? Where are you? How come you're not crying for details for this one? Because it's the benefit of PUP Belize City Council, which the government has no problem in doing Mr. President. We understand that the municipality needs support and once again, we're doing for a PUP city council that a PUP central government never did for a PUP city council by allowing them to float a bond, so they can manage the affairs for the betterment of the city and I support this motion with very little to no details Mr. President."

Hon. Mark Lizarraga - Business Senator
"One has to admit that over the recent years, both yourselves, your administration; both this administration and now the present city council are taking advantage of the monetary realities in the world. All of these loans are being gotten are concessionary terms Mr. President, is because the lending institutions are awash with cash, interest rates have come down substantially and they the push money, they the beg unno to borrow money. Now I take no fault as I did then or as I do now with people trying to take advantage of the lower interest rates. The surplus availability of funds in the system because certainly the private sector no the borrow, we no have a lot of confidence, we're afraid. The government, if you look at it, the government has mopped up most of the liquidity in the system - over a billion dollars, right. So there is no reason why the city council should not try to improve its cash flow positions by buying long term money at cheaper rates. I congratulate them if that's what you want me to get up and say, I congratulate them and it says right here if you haven't read the Attorney General. It says to retire any existing debt or liability, refinancing, that's a good thing right. To fund the interest reserve, that's a good thing okay. So, Mr. President to smooth out short term cash flow availability and to reduce short term financing cost because you know the cash flow situation as you faced right. So, I mean, I don't know what you want us to say, I think you should be happy we are supporting this motion (applause). You should be happy but you're trying to be your jolly ole self and trying to be facetious."