Order in Council 250/2018

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:

1. Pursuant to subsection 22(1) of the Financial Administration Act, the Minister of Finance, on behalf of Ontario, is authorized to indemnify Canada Mortgage and Housing Corporation (“CMHC”) for fifty percent of any losses incurred by CMHC in connection with a loan made by CMHC to Ottawa Young Men’s and Young Women’s Christian Association, operating as National Capital Region YMCA-YWCA, in a maximum aggregate principal amount not exceeding Twenty Four Million Dollars.
2. The Minister of Finance is authorized to determine the terms, conditions and amount of the indemnity authorized under paragraph 1 of this Order, provided that the maximum aggregate amount indemnified shall be Twelve Million Dollars.