Municipal Financing Corporation of Saskatchewan
The Municipal Financing Corporation of Saskatchewan (MFC) was established in 1969 under the authority of "The Municipal Financing Corporation Act". The purpose of MFC is to assist in making capital funds available for the financing of sewer and water, school, hospital, and other essential construction and local improvement projects by municipalities, school divisions and health districts.
MFC allows local authorities to minimize interest costs by offering extremely competitive interest rates and the ability to repay debt prior to maturity. In addition, MFC offers very flexible borrowing terms that can be customized to meet the needs of the project being financed.
At December 31, 2015, MFC held more than $224 million of debentures issued by 96 local authorities. These debentures had maturity dates ranging from 2016 through 2045.
Municipal Financing Corporation of Saskatchewan (MFC)