Order in Council 1530/2026

On the recommendation of the undersigned, the Lieutenant Governor of Ontario, by and with the advice and concurrence of the Executive Council of Ontario, orders that:

Whereas subsection 11(2) of the Royal Ontario Museum Act, R.S.O. 1990, c.R.35, as amended, provides that The Royal Ontario Museum (the “Museum”) requires the Lieutenant Governor in Council’s approval to borrow money where the total amount of outstanding borrowings exceeds $100,000;

And whereas by Order in Council 1004/2003 dated May 7, 2003 approval was given to the Museum to borrow an aggregate principal amount not to exceed $68,500,000;

And whereas the purpose of such borrowing was to allow the Museum to finance the initial phase of its capital expansion project (the “Renaissance ROM Project”);

And whereas by Order in Council 1257/2005 dated July 29, 2005, the aggregate principal amount authorized to be borrowed by the Museum was raised to $113,000,000;

And whereas by Order in Council 979/2020 dated June 25, 2020, approval was given to the Museum to increase its operating line of credit with the Canadian Imperial Bank of Commerce to $7,000,000;

And whereas the Museum requires refinancing to pay the outstanding balance of the aggregate principal amount for the Renaissance ROM Project;

Therefore, pursuant to subsection 11(2) of the Royal Ontario Museum Act, R.S.O. 1990, c. R.35, as amended, and subject to such terms and conditions as may be stipulated by the Minister of Finance or otherwise agreed to between the Museum and the Ontario Financing Authority, approval is hereby given to the Museum to borrow from the Ontario Financing Authority an aggregate principal amount not to exceed $15,500,000, in lawful money of Canada, for a 20-year period, and with such borrowing to commence upon the maturity of the existing borrowing between the Ontario Financing Authority and the Museum.