ontario regulation 39/07

made under the

municipal act, 2001

Made: February 7, 2007
Filed: February 12, 2007
Published on e-Laws: February 13, 2007
Printed in The Ontario Gazette: March 3, 2007

Amending O. Reg. 438/97

(Eligible Investments and Related Financial Agreements)

1. Subparagraph 5 i of section 2 of Ontario Regulation 438/97 is amended by striking out “a post-secondary educational institution” and substituting “a university in Ontario”.

2. Subsection 3 (1) of the Regulation is amended by striking out the portion before clause (a) and substituting the following:

(1) A municipality shall not invest in a security under subparagraph 1 iii, v.1, v.2, vi.1, vi.2 or vi.3 or paragraph 3.1 or 4 of section 2 unless the bond, debenture, promissory note or evidence of indebtedness is rated,

. . . . .