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First Nations Fiscal Management Act

Version of section 74 from 2005-03-23 to 2006-03-31:

The following provision is not in force.

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 of capital infrastructure for the provision of local services on reserve lands,

    • (ii) lease financing of capital assets for the provision of local services on reserve lands, or

    • (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 its members and first nations organizations; and

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

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