Section 1 definitions of "loan authorization bylaw" and "municipality" BEFORE repealed by 2003-52-453(a), effective January 1, 2004 (BC Reg 465/2003, repealing BC Reg 428/2003).

"loan authorization bylaw" means a loan authorization bylaw under the Local Government Act;

"municipality" means municipality as defined in the Local Government Act and includes the City of Vancouver, but does not include a regional hospital district or a school district;

  Section 1 definitions of "population" and "regional district" BEFORE amended by 2003-52-453(b), effective January 1, 2004 (BC Reg 465/2003, repealing BC Reg 428/2003).

"population" means population as defined in the Local Government Act;

"regional district" means

(a) a regional district as defined in the Local Government Act, and

(b) except for the purposes of sections 2 and 7, the Greater Nanaimo Water District, the Greater Vancouver Water District, a regional hospital district under the Hospital District Act, other than the Greater Vancouver Regional Hospital District and the Greater Vancouver Sewerage and Drainage District, if a notice of intention has been given under section 25;

  Section 1 definition of "public institution", paragraph (g) BEFORE repealed by 2004-33-22, effective June 11, 2004 (BC Reg 252/2004).

(g) the British Columbia Institute of Technology under the Institute of Technology Act, and

  Section 1 definition of "regional district", paragraph (a) BEFORE repealed by 2004-25-9(a), effective August 1, 2004 [upon repeal of Greater Nanaimo Water District Act (BC Reg 365/2004 under 2004-25-2)].

(a) the Greater Nanaimo Water District,

  Section 1 definition of "public institution", paragraph (e.4) was added by 2005-17-20, effective March 31, 2005 (BC Reg 201/2005).

  Section 1 definition of "northern municipality" was added by 2008-42-88(a), effective February 6, 2009 (BC Reg 14/2009).

  Section 1 definition of "regional district" BEFORE amended by 2008-42-88(b), effective February 6, 2009 (BC Reg 14/2009).

"regional district" includes, except for the purposes of sections 2 and 7,

(a) [Repealed 2004-25-9.]

(b) the Greater Vancouver Water District,

(c) the Greater Vancouver Sewerage and Drainage District, and

(d) a regional hospital district under the Hospital District Act, other than the Greater Vancouver Regional Hospital District,

if a notice of intention has been given under section 25;

  Section 1 definition of "public institution" BEFORE amended by 2003-48-21, effective November 23, 2012 (BC Reg 327/2012).

"public institution" means

(a) a municipality or regional district,

(b) a hospital under Part 1 of the Hospital Act,

(c) a regional hospital district under the Hospital District Act,

(d) a board of school trustees or a francophone education authority under the School Act,

(e) a university under the University Act,

(e.1) the University of Northern British Columbia continued under the University of Northern British Columbia Act,

(e.2) Royal Roads University continued under the Royal Roads University Act,

(e.3) [Repealed 2002-35-10.]

(e.4) the Thompson Rivers University continued under the Thompson Rivers University Act,

(f) an institution under the College and Institute Act,

(g) the British Columbia Institute of Technology under the Institute of Technology Act, and

(h) the Open Learning Agency under the Open Learning Agency Act;

  Section 1.1 was enacted by 2008-42-89, effective February 6, 2009 (BC Reg 14/2009).

  Section 2 (12) was added by 2008-42-90, effective February 6, 2009 (BC Reg 14/2009).

  Section 2 (9) BEFORE amended by 2024-3-1, effective March 14, 2024 (Royal Assent).

(9) Not later than the last day of February in each year, the regional board of each regional district must appoint from among its directors the required number of persons as members of the authority for that year or until a successor is appointed.

  Section 2 (9.1) was added by 2024-3-1, effective March 14, 2024 (Royal Assent).

  Section 4 (1) BEFORE amended by 2024-3-2, effective March 14, 2024 (Royal Assent).

(1) At its first meeting, to be held not later than March 31 in each year, the members of the authority must elect one of their number as chair to hold office until a successor is elected and for this purpose each member has one vote.

  Section 5 BEFORE re-enacted by 2012-2-12, effective March 15, 2012 (Royal Assent).

  Section 6 (2) BEFORE amended by RS2015-1-RevSch, effective January 1, 2016 [coming into force of RS2015-1].

(2) Sections 198 and 199 of the Local Government Act apply to the secretary and treasurer respectively.

  Section 7 (1) (a) BEFORE amended by 2018-23-53,Sch 1, effective May 31, 2018 (Royal Assent).

(a) 4 members of the authority representing the Greater Vancouver Regional District,

  Section 7 (2) BEFORE amended by 2024-3-3, effective March 14, 2024 (Royal Assent).

(2) At its first meeting in each year, the authority must elect the required number of trustees to hold office for that year or until their successors are elected.

  Section 11 (1) (a) to (c) BEFORE amended by 2000-7-236, effective January 1, 2003 (BC Reg 338/2002).

(a) borrowing in anticipation of the receipt of tax revenues under section 334.3 or 829 of the Local Government Act;

(b) financing of short term debts for purposes of a capital nature under section 334.4 or 830 of the Local Government Act;

(c) temporary financing of capital projects under section 335.2 or 834 of the Local Government Act;

  Section 11 (1) (a) to (c) BEFORE amended by 2003-52-454, effective January 1, 2004 (BC Reg 465/2003, repealing BC Reg 428/2003).

(a) borrowing in anticipation of the receipt of tax revenues under section 334.3 or 821 of the Local Government Act;

(b) financing of short term debts for purposes of a capital nature under section 334.4 or 822 of the Local Government Act;

(c) temporary financing of capital projects under section 335.2 or that section as it applies under section 819 of the Local Government Act;

  Section 11 (1) (i) BEFORE repealed by 2004-33-23, effective June 11, 2004 (BC Reg 252/2004).

(i) borrowing in anticipation of the receipt of current revenues under section 32 (1) of the Institute of Technology Act;

  Section 11 (1) (j) BEFORE repealed by 2003-48-22, effective November 23, 2012 (BC Reg 327/2012).

(j) borrowing in anticipation of the receipt of current revenues under section 13 (1) of the Open Learning Agency Act.

  Section 11 (1) (a) to (c) BEFORE amended by RS2015-1-RevSch, effective January 1, 2016 [coming into force of RS2015-1].

(a) borrowing under section 177 [municipal revenue anticipation borrowing] of the Community Charter or section 821 [regional district revenue anticipation borrowing] of the Local Government Act;

(b) financing under section 178 [municipal short term capital borrowing] of the Community Charter or section 822 [regional district short term capital borrowing] of the Local Government Act;

(c) financing under section 181 [municipal temporary borrowing under loan authorization bylaw] of the Community Charter or section 823.2 [regional district temporary borrowing under loan authorization bylaw] of the Local Government Act;

  Section 11.1 (1) (a) BEFORE amended by 2000-7-237, effective January 1, 2003 (BC Reg 338/2002).

(a) to a local government who is a party to an agreement under section 334.1 or 828 of the Local Government Act, or

  Section 11.1 (a) BEFORE amended by 2003-52-455, effective January 1, 2004 (BC Reg 465/2003, repealing BC Reg 428/2003).

(a) to a local government who is a party to an agreement under section 334.1 or 820 of the Local Government Act, or

  Section 11.1 (1) (a) BEFORE amended by RS2015-1-RevSch, effective January 1, 2016 [coming into force of RS2015-1].

(a) to a local government who is a party to an agreement under section 175 [municipal liabilities under agreements] of the Community Charter or section 819 [application of Community Charter borrowing and liability provisions] of the Local Government Act, or

  Section 12 BEFORE amended by RS2015-1-RevSch, effective January 1, 2016 [coming into force of RS2015-1].

  Section 14 (16) BEFORE amended by 2003-52-456, effective January 1, 2004 (BC Reg 465/2003, repealing BC Reg 428/2003).

(16)  Section 491 of the Local Government Act applies to the authority.

  Section 15 (2) BEFORE amended by 2000-7-238, effective January 1, 2003 (BC Reg 338/2002).

(2)  Each regional district sharing in the proceeds of a security issue of the authority must pay over to the authority to repay the obligations to the authority under that security issue an amount equal to

(a) 1/2 the average annual installment of principal and interest in respect of its own borrowing under section 833 of the Municipal Act, and

(b) 1/2 the average annual installment of principal and interest as set out in the agreements entered into with, or securities issued to, the regional district by member municipalities with respect to financing under section 835 of the Municipal Act.

  Section 15 (2) (a) BEFORE amended by 2003-52-457(a), effective January 1, 2004 (BC Reg 465/2003, repealing BC Reg 428/2003).

(a) 1/2 the average annual installment of principal and interest in respect of its own borrowing under section 335.3 of the Local Government Act as that section applies under section 819 of that Act, and

  Section 15 (3) (b) and (c) BEFORE amended by 2003-52-457(b), effective January 1, 2004 (BC Reg 465/2003, repealing BC Reg 428/2003).

(b) each regional district must, without further requirement of bylaw or resolution, secure the balance of its liability to the debt reserve fund under this section by issuing to the authority a non-interest bearing demand note for the balance, bearing the signature of the chair and countersigned by the regional district officer assigned responsibility under section 199 of the Local Government Act, or by another officer the regional board may designate;

(c) a member municipality of the regional district must, without further requirement of bylaw or resolution, secure the balance of its liability to the regional district by issuing to the regional district a non-interest bearing demand note for the balance, bearing the signature of the mayor and the municipal officer assigned responsibility under section 199 of the Local Government Act, or by another officer the council may designate.

  Section 15 (2) (a) and (b) BEFORE amended by RS2015-1-RevSch, effective January 1, 2016 [coming into force of RS2015-1].

(a) 1/2 the average annual installment of principal and interest in respect of its own borrowing under section 825 [security issuing bylaws] of the Local Government Act, and

(b) 1/2 the average annual installment of principal and interest as set out in the agreements entered into with, or securities issued to, the regional district by member municipalities with respect to financing under section 824 of the Local Government Act.

  Section 15 (2) BEFORE amended by 2016-5-43,Sch 5, effective March 10, 2016 (Royal Assent).

(2) Each regional district sharing in the proceeds of a security issue of the authority must pay over to the authority to repay the obligations to the authority under that security issue an amount equal to

(a) 1/2 the average annual installment of principal and interest in respect of its own borrowing under section 411 [security issuing bylaws] of the Local Government Act, and

(b) 1/2 the average annual installment of principal and interest as set out in the agreements entered into with, or securities issued to, the regional district by member municipalities with respect to financing under section 410 of the Local Government Act.

  Section 15 (7) (a) BEFORE amended by 2016-5-43,Sch 5, effective March 10, 2016 (Royal Assent).

(a) be repaid to the regional district when the regional district has repaid the final installment, or

  Section 15 (7) (b) BEFORE amended by 2016-5-43,Sch 6 and 2016-5-44,Sch 6, effective March 10, 2016 (Royal Assent).

(b) be applied to the final installments.

  Section 16 (3) (e) BEFORE amended by 2002-33-12, effective February 28, 2003 (BC Reg 34/2003).

(e) any of the classes of investments permitted under section 15 of the Trustee Act;

  Section 16 (5) (part) BEFORE amended by 2024-3-4, effective March 14, 2024 (Royal Assent).

(5) At the first meeting of the authority in each year, the trustees must present a report respecting the previous year to the authority, stating all of the following:

  Section 22 BEFORE repealed by 2003-52-458, effective January 1, 2004 (BC Reg 465/2003, repealing BC Reg 428/2003).

  Section 23 BEFORE repealed by 2003-52-458, effective January 1, 2004 (BC Reg 465/2003, repealing BC Reg 428/2003).

  Section 25 BEFORE re-enacted by 2003-52-459, effective January 1, 2004 (BC Reg 465/2003, repealing BC Reg 428/2003).

  Section 25 (a) BEFORE repealed by 2004-25-9(b), effective August 1, 2004 [upon repeal of Greater Nanaimo Water District Act (BC Reg 365/2004 under 2004-25-2)].

(a) the Greater Nanaimo Water District;

  Section 26 (1) and (5) BEFORE amended by 2003-52-460, effective January 1, 2004 (BC Reg 465/2003, repealing BC Reg 428/2003).

(1)  If the authority is to finance on behalf of a regional district and its member municipalities, the security issuing bylaw of the regional district under the Local Government Act may provide that the chair and treasurer of the regional district, on behalf of the regional district, are to enter into an agreement with the authority providing for the payment by the regional district to the authority of the amounts required to meet the obligations of the authority with respect to its borrowing.

(5)  Amendments to the agreements made under subsection (4) must immediately be forwarded to the regional districts and municipalities involved, and despite the Local Government Act or this Act, have the same effect as the amount originally set out in the agreements.

  Section 28 (1) and (3) BEFORE amended by 2003-52-461, effective January 1, 2004 (BC Reg 465/2003, repealing BC Reg 428/2003).

(1)  Division 3 [Audit] of Part 9 of the Local Government Act applies to the authority.

(3)  Sections 23 and 24 do not apply to borrowing under Part VIII of the National Housing Act (Canada).