Examples of Financing Secured by Other Revenues Regulations in a sentence
First Nations can borrow against one (or both) of two streams - property taxation revenues or “other revenues” as defined under the Financing Secured by Other Revenues Regulations.
We do want to note, though, that the addition of subsection 88.1(1) to the FNFMA will not, on its own, allow FNGST and FNST Revenues to be securitized, as the wording at subparagraph 3(a)(ii) of the Financing Secured by Other Revenues Regulations (“FSORR”) currently excludes from the definition of other revenues “revenues from taxes administered by Her Majesty in right of Canada on the first nation’s behalf”.
Money borrowed by the First Nation from the First Nations Finance Authority that is secured by other revenues may only be used for the purposes set out in section 4 of the Financing Secured by Other Revenues Regulations made under the Act.
A certificate guaranteeing origin (CGO) produced by an authorised inspection body must be included with the application2 in order to certify that the facility is compliant.