The mandate of the MFA is to provide financial solutions to BC's local governmentorganizations. Formed in 1970, the MFA united both the borrowing power andrequirements of BC's municipalities to provide a collective, long-term debt-issuancefacility. All local governments in BC have opted in to the MFA system with the soleexception of the City of Vancouver, which nonetheless remains part of the MetroVancouver joint and several borrowing guarantee.The MFA now represents the collective long-term borrowing interests of BC's regionaldistricts, municipalities, regional hospital districts, water and sewer utilities, E-Comm(southwestern BC's emergency services) and CREST (Capital Region EmergencyServices Telecommunications).The MFA is governed by 39 Members of the Authority, representing all regional districtsin BC proportional to population. An elected Board of Trustees of 10 of these membersoversees executive and administrative powers and duties.