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.