Part 8 — Financial Administration
250 Investments Authorized investments
trust certificates, guaranteed investment certificates or receipts,
certificates of deposit, deposit receipts, bills, notes and mortgages
of real estate or leaseholds and rights or interests in respect of a
security.
(2) A municipality may only invest its money in the following:
(a) securities issued or guaranteed by
(i) the Crown in right of Canada or an agent of the Crown,
or
(ii) the Crown in right of a province or territory or an agent
of a province or territory;
RSA 2000
Section 251 MUNICIPAL GOVERNMENT ACT Chapter M-26
182
(b) securities of a municipality , a school division, a provincial
health agency, regional health authority or hospital operator
under the Provincial Health Agencies Act or a regional
services commission in Alberta;
(c) securities that are issued or guaranteed by a bank, treasury
branch, credit union or trust corporation;
(d) units in pooled funds of all or any of the investments
described in clauses (a) to (c);
(e) shares of a corporation incorporated or continued under the
Canada Business Corporations Act (Canada) or
incorporated, continued or registered under the Business
Corporations Act if the investment is approved by the
Minister.
(2.1) Subsection (2) does not apply to a municipality's investment
in a controlled corporation.
(3) The approval of the Minister under subsection (2)(e) may
contain conditions.
(4) In addition to the investments referred to in subsection (2), the
Minister may by regulation allow one or more municipalities to
invest their money in other investments described in the regulation.
(5) Nothing in this section prevents a municipality from acquiring
a share or membership in a non-profit organization.
RSA 2000 cM-26 s250;2012 cE-0.3 s279;2016 c24 s20;2024 c10 s31;
2025 c10 s39