First Nations Fiscal Management Act

Marginal note:Mandate

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  • (ii) [Repealed, 2018, c. 27, s. 403]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