Municipal Finance Authority Regulation

B.C. Reg. 67/98
O.C. 315/98

Deposited March 12, 1998

This archived regulation consolidation is current to December 31, 2021 and includes changes enacted and in force by that date. For the most current information, click here.

Municipal Finance Authority Act

Municipal Finance Authority Regulation

[includes amendments up to B.C. Reg. 336/2008, November 28, 2008]

Contents
	1	Definition
	2	Relationships between tax rates
	3	Limit on Class 1 rate
	4	Eligible institutions and classes of eligible agreements
	5	Prescribed institutions

Definition

1 In this regulation, "Act" means the Municipal Finance Authority Act.

Relationships between tax rates

2 If the authority imposes rates under section 17 of the Act, the relationships between tax rates, expressed as ratios of the rate on each property class to the rate on Class 1, must be the relationships shown in the following Schedule:

Schedule
Class of Property	Ratio to Class 1 Rate
1	1.0:1
2	3.5:1
3	1.0:1
4	3.4:1
5	3.4:1
6	2.45:1
7	3.0:1
8	1.0:1
9	1.0:1

[en. B.C. Reg. 336/2008, Sch. 2.]

Limit on Class 1 rate

3 The rate set by the authority under section 17 of the Act for property class 1 must not exceed $.0020 per thousand dollars of taxable land and improvements.

Eligible institutions and classes of eligible agreements

4 The eligible institutions for the purposes of allowing financing to be provided under section 11.1 (1) (b) of the Act are listed in Column 1 and, for each eligible institution, the class of eligible agreement is specified in Column 2 to the right of that institution.

	Column 1		Column 2
	(a) an emergency communications corporation under the Emergency Communications Corporations Act		(a) leasing under the Emergency Communications Corporations Act
	(b) an institution under the College and Institute Act		(b) leasing under sections 19 and 50 of the College and Institute Act
	(c) the British Columbia Institute of Technology under the Institute of Technology Act		(c) leasing under section 14 of the Institute of Technology Act
	(d) the Open Learning Agency under the Open Learning Agency Act		(d) leasing under the Open Learning Agency Act
	(e) a university under the University Act		(e) leasing under the University Act
	(f) the university under the Royal Roads University Act		(f) leasing under the Royal Roads University Act
	(g) the university under the University of Northern British Columbia Act		(g) leasing under the University of Northern British Columbia Act
	(h) an improvement district as defined in section 5 of the Municipal Act		(h) leasing under the Municipal Act
	(i) Chilliwack Economic Partners Corporation incorporated under the Business Corporations Act		(i) leasing secured by a municipal guarantee under the Community Charter
	(j) a board of school trustees or a francophone education authority under the School Act		(j) leasing under the School Act

[am. B.C. Regs. 453/99, s. 1; 592/2004; 3/2008, s. (a); 91/2008, s.2.]

Prescribed institutions

5 The institutions for which investment services may be provided under section 16 of the Act are the following:

(a) an emergency communications corporation under the Emergency Communications Corporations Act;

(b) the Columbia Basin Trust under the Columbia Basin Trust Act;

(d) regional library districts under the Library Act;

(e) an improvement district as defined in section 5 of the Municipal Act;

(f) the North Island-Coast Development Initiative Trust under the North Island-Coast Development Initiative Trust Act;

(g) the Southern Interior Development Initiative Trust under the Southern Interior Development Initiative Trust Act;

(h) the First Nations Finance Authority;

(i) the South Coast British Columbia Transportation Authority.

[am. B.C. Regs. 453/99, s. 2; 122/2005; 273/2006; 3/2008, s. (b); 91/2008, s. 3.]

[Provisions of the Municipal Finance Authority Act, R.S.B.C. 1996, c. 325, relevant to the enactment of this regulation: sections 11.1, 16, 17 and 18]