Functional Responsibility:
The Alberta Municipal Financing Corporation was established by The Alberta Municipal Financing Corporation Act (S.A. Chapter 3, 1956). The Alberta Municipal Financing Corporation was created to provide financial services for municipalities and other authorized local authorities. The Alberta Municipal Financing Corporation is a non-profit corporation established to assist municipalities and other authorized local authorities to obtain capital funds at the lowest possible cost. The Corporation issued debentures of the Corporation guaranteed as to principal and interest by the Province. These debentures could be used to obtain funds made available to the borrowing entities at more advantageous rates than could be obtained by municipalities and other authorized local authorities borrowing independently.

Predecessor and Successor Bodies:
Before the Alberta Municipal Financing Corporation was formed, several plans had been in operation to help local governments meet their loan financing needs. Treasury became involved with grants to municipalities through The Municipal Assistance Act, (S.A. Chapter 54, 1951). Under The Self Liquidating Projects Act (S. A. Chapter, 67, 1950), the Provincial Treasurer, with the approval of the Lieutenant Governor in Council could enter into an agreement with any municipality to make a loan or loans to such municipality from the General Revenue Fund. The Municipal Capital Expenditures Loan Act (S.A. Chapter 81, 1953) was another financing mechanism for municipalities. The rapid population growth in Alberta in the 1950s stemming from the Leduc oil strike in 1947 called for a new approach to provide municipal capital financing, which initiated the formation of the Alberta Municipal Financing Corporation.

Administrative Relationships:
Initially, the authorized stock of the Corporation consisted of the following shares: Class A, available only to the Crown; Class B, available only to municipalities; Class C, available only to cities; Class D, available only to towns and villages. In 1981, Class E, available only to school districts and divisions was added to the authorized stock. Four directors of the Board were appointed by the Lieutenant Governor in Council to represent the Class A common shareholders. Each of the other classes of shareholders were entitled to annually elect a Director to the Board.
The Alberta Municipal Financing Corporation was under the jurisdiction of the Provincial Treasurer from 1956 to 2001. In 2001 the Corporation was transferred to the jurisdiction of Alberta Finance.

Administrative Structure:
A Board of Directors administers the business of the Corporation. The Act stipulates that no member of the government, and no more than one civil servant, may be appointed to the Board. At its inception there were seven members of the Board; by the turn of the century this number had increased to nine.

Names of Chief Officers:
President of the Corporation and Chairman of the Board:
J. W. Judge 1956-1962
C. P. Hayes 1962-1975
F. G. Stewart 1976-1985
A. F. Collins 1985-1995
M. J. Schmitke 1995-1996
R. A. Splane 1996-1997
A. J. McPherson 1997-2001
J. M. Drinkwater 2001-[2002]