Google Translate Disclaimer

A number of pages on the Government of Saskatchewan`s web site have been professionally translated in French. These translations are identified by a yellow text box that resembles the link below and can be found in the right hand rail of the page. The home page for French-language content on this site can be found here:

Renseignements en Français

Where an official translation is not available, Google™ Translate can be used. Google™ Translate is a free online language translation service that can translate text and web pages into different languages. Translations are made available to increase access to Government of Saskatchewan content for populations whose first language is not English.

The results of software-based translation do not approach the fluency of a native speaker or possess the skill of a professional translator. The translation should not be considered exact, and may include incorrect or offensive language Government of Saskatchewan does not warrant the accuracy, reliability or timeliness of any information translated by this system. Some files or items cannot be translated, including graphs, photos, and other file formats such as portable document formats (PDFs).

Any person or entities that rely on information obtained from the system does so at his or her own risk. Government of Saskatchewan is not responsible for any damage or issues that may possibly result from using translated website content. If you have any questions about Google™ Translate, please visit: Google™ Translate FAQs.

Municipal Finance Corporation

The Municipal Financing Corporation assists in making capital funds available to finance improvement projects by municipalities, school divisions and health districts. Projects include construction and improvement of:

  • Sewer and water systems;
  • Schools,
  • Hospitals, and
  • Other essential services.

MFC allows local authorities to reduce interest costs by offering extremely competitive interest rates and the ability to repay debt prior to maturity. In addition, MFC offers flexible borrowing terms that can be customized to meet the needs of the project being financed.

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1. Programs and Services

All municipal governments, school divisions and health districts can borrow from MFC.

Benefits of borrowing from MFC

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.

Loans from MFC can also be repaid prior to maturity, please refer our Prepayment Policy for details.

Process of borrowing from MFC

Before borrowing from MFC, local authorities require the approval of the Local Government Committee of the Saskatchewan Municipal Board.

After approval from the Local Government Committee of the Saskatchewan Municipal Board has been received, the following steps occur:

  • The local authority should contact MFC and request an “Application to Sell Debentures”.
  • MFC reviews the completed application, and notifies the local authority of MFC’s willingness to purchase its debentures, and the interest rate that MFC will charge.  The local authority has a two week period to withdraw from the transaction.
  • The local authority works with the Saskatchewan Municipal Board to print a debenture.
  • The debenture is forwarded to MFC, and the local authority receives the proceeds of the loan.

MFC interest rate

MFC’s interest rates depend on the term of the debenture and current interest rate levels.  The interest rate is the sum of:

  1. The Province of Saskatchewan’s cost of borrowing; plus
  2. A small amount to cover MFC’s administrative costs.

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2. Publications

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3. Annual Reports

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