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First Nations Fiscal Management Act

Version of section 74 from 2018-12-13 to 2023-06-19:

Marginal note:Mandate

 The purposes of the Authority are to

  • (a) secure for its borrowing members, through the use of property tax revenues,

    • (i) long-term financing or lease financing of capital assets for the provision of local services on reserve lands, or

    • (ii) [Repealed, 2018, c. 27, s. 403]

    • (iii) short-term financing to meet cash-flow requirements for operating or capital purposes under a law made under paragraph 5(1)(b), or to refinance a short-term debt incurred for capital purposes;

  • (b) secure for its borrowing members, through the use of other revenues prescribed by regulation, financing for any purpose prescribed by regulation;

  • (c) secure the best possible credit terms for its borrowing members;

  • (d) provide investment services to First Nations and entities referred to in any of paragraphs 50.1(1)(a) to (e); and

  • (e) provide advice regarding the development of long-term financing mechanisms for First Nations.

  • 2005, c. 9, s. 74
  • 2018, c. 27, ss. 403, 414(E)

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