The Municipal Finance Authority of British Columbia (MFA) was formed in 1970, uniting the borrowing power and requirements of BC’s municipalities by providing a collective long-term debt issuance facility. The methodology inherent in the Act was creative, unique, and promised to change the provincial/municipal political landscape. In the early months of that year, the Bill to introduce the MFA and it’s underlying Act underwent lively debate in BC’s legislature.
Over the years, the Act has grown and evolved to include, not only capital borrowing, but short term borrowing, pooled investments (1989) and leasing (1995).
For the full Municipal Finance Authority of BC Act click here.