Debt Reserve Funds Replenishment Regulations
Marginal note:Notice of proposed charge
2 (1) At least 90 days in advance of imposing charges to replenish the debt reserve fund under paragraph 84(5)(a) or (b) of the Act, the Authority shall send a notice to the council of every borrowing member setting out the amount of the shortfall in the fund and the Authority’s intention to require borrowing members to replenish the fund.
Marginal note:Content of Notice
(2) The notice shall identify each defaulting member and the amount of the shortfall attributable to it.
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