The mandate of the MFA is to provide financial solutions to BC’s local government organizations. Formed in 1970, the MFA united both the borrowing power and requirements of BC’s municipalities to provide a collective, long-term debt-issuance facility. All local governments in BC have opted in to the MFA system with the sole exception of the City of Vancouver, which nonetheless remains part of the Metro Vancouver joint and several borrowing guarantee. The MFA now represents the collective long-term borrowing interests of BC’s regional districts, municipalities, regional hospital districts, water and sewer utilities, E-Comm (southwestern BC’s emergency services) and CREST (Capital Region Emergency Services Telecommunications). The MFA is governed by 39 Members of the Authority, representing all regional districts in BC proportional to population. An elected Board of Trustees of 10 of these members oversees executive and administrative powers and duties.