| EXHIBIT 3 - INVESTMENT TERMS | |||||||||||||
| INSTRUMENT | ISSUER | INT_RATE | DATE_BGT | DATE_SOLD | BOUGHT | SOLD | BANK | LENGTH | W AVG LENGTH | DAYS to MAT | W AVG MAT | 12/31/2007 | |
| BOND | BMO | 4.24 | 03-Jan-2007 | 03-Jan-2008 | 2,000,000.00 | 2,000,000.00 | BMO | 365 | 730,000,000 | 3 | 6,000,000 | ||
| BA | TD | 4.53 | 14-Dec-2007 | 21-Jan-2008 | 19,906,200.00 | 20,000,000.00 | TD | 38 | 756,435,600 | 21 | 418,030,200 | ||
| BOND 2015 | FARM CREDIT | 4.14 | 24-Jul-2007 | 24-Jan-2008 | 1,000,000.00 | 1,000,000.00 | WG | 184 | 184,000,000 | 24 | 24,000,000 | ||
| BOND | BNS | 4.35 | 25-Jan-2007 | 25-Jan-2008 | 1,000,000.00 | 1,000,000.00 | WG | 365 | 365,000,000 | 25 | 25,000,000 | ||
| BOND | ONT | 4.24 | 13-Apr-2007 | 31-Jan-2008 | 994,500.00 | 1,000,000.00 | WG | 293 | 291,388,500 | 31 | 30,829,500 | ||
| Less than 1 month | 24,900,700 | 11.3% | |||||||||||
| BA | TD | 4.50 | 04-Dec-2007 | 04-Feb-2008 | 8,931,690.00 | 9,000,000.00 | TD | 62 | 553,764,780 | 35 | 312,609,150 | ||
| BA | HONGKONG | 4.80 | 16-Aug-2007 | 11-Feb-2008 | 6,839,000.00 | 7,000,000.00 | HK | 179 | 1,224,181,000 | 42 | 287,238,000 | ||
| BOND | BNS | 4.40 | 22-Feb-2007 | 22-Feb-2008 | 1,500,000.00 | 1,500,000.00 | WG | 365 | 547,500,000 | 53 | 79,500,000 | ||
| BOND 2012 | BNS | 4.35 | 24-Feb-2007 | 24-Feb-2008 | 1,000,000.00 | 1,000,000.00 | BMO | 365 | 365,000,000 | 55 | 55,000,000 | ||
| ACCRUAL | BMO | 4.65 | 05-Mar-2007 | 05-Mar-2008 | 3,000,000.00 | 3,139,500.00 | BMO | 366 | 1,098,000,000 | 65 | 195,000,000 | ||
| BOND 2013 | RBC | 4.35 | 14-Mar-2007 | 14-Mar-2008 | 1,000,000.00 | 1,000,000.00 | WG | 366 | 366,000,000 | 74 | 74,000,000 | ||
| BDN | HONGKONG | 4.80 | 18-Dec-2007 | 18-Mar-2008 | 14,822,550.00 | 15,000,000.00 | HK | 91 | 1,348,852,050 | 78 | 1,156,158,900 | ||
| BDN | TD | 4.80 | 19-Sep-2007 | 20-Mar-2008 | 2,929,500.00 | 3,000,000.00 | TD | 183 | 536,098,500 | 80 | 234,360,000 | ||
| BDN | TD | 4.65 | 23-Nov-2007 | 28-Mar-2008 | 12,794,600.00 | 13,000,000.00 | TD | 126 | 1,612,119,600 | 88 | 1,125,924,800 | ||
| Between 1 and 3 months | 52,817,340 | 24.0% | |||||||||||
| BOND | ACFA | 4.40 | 10-Apr-2007 | 10-Apr-2008 | 1,000,000.00 | 1,000,000.00 | WG | 366 | 366,000,000 | 101 | 101,000,000 | ||
| ACCRUAL | BMO | 5.11 | 02-May-2007 | 02-May-2008 | 4,000,000.00 | 4,204,400.00 | BMO | 366 | 1,464,000,000 | 123 | 492,000,000 | ||
| BOND 2012 | BMO | 4.55 | 01-Jun-2007 | 01-Jun-2008 | 2,000,000.00 | 2,000,000.00 | BMO | 366 | 732,000,000 | 153 | 306,000,000 | ||
| BOND 2012 | BMO | 4.55 | 14-Jun-2007 | 14-Jun-2008 | 3,000,000.00 | 3,000,000.00 | BMO | 366 | 1,098,000,000 | 166 | 498,000,000 | ||
| BOND | BNS | 4.76 | 15-Jun-2007 | 15-Jun-2008 | 3,400,000.00 | 3,400,000.00 | WG | 366 | 1,244,400,000 | 167 | 567,800,000 | ||
| BOND 2011 | FARM CREDIT | 4.45 | 16-Jun-2007 | 16-Jun-2008 | 5,000,000.00 | 5,000,000.00 | BMO | 366 | 1,830,000,000 | 168 | 840,000,000 | ||
| BDN | HONGKONG | 4.76 | 18-Dec-2007 | 16-Jun-2008 | 6,838,580.00 | 7,000,000.00 | HK | 181 | 1,237,782,980 | 168 | 1,148,881,440 | ||
| BOND 2011 | FARM CREDIT | 4.60 | 28-Jun-2007 | 28-Jun-2008 | 3,000,000.00 | 3,000,000.00 | WG | 366 | 1,098,000,000 | 180 | 540,000,000 | ||
| BOND | BMO | 4.81 | 25-Jul-2007 | 25-Jul-2008 | 1,000,000.00 | 1,000,000.00 | BMO | 366 | 366,000,000 | 207 | 207,000,000 | ||
| BOND | CIBC | 5.11 | 25-Jul-2007 | 25-Jul-2008 | 3,000,000.00 | 3,000,000.00 | BMO | 366 | 1,098,000,000 | 207 | 621,000,000 | ||
| BOND | BNS | 5.06 | 13-Aug-2007 | 13-Aug-2008 | 1,000,000.00 | 1,000,000.00 | WG | 366 | 366,000,000 | 226 | 226,000,000 | ||
| BOND | RBC | 4.14 | 24-Aug-2007 | 24-Aug-2008 | 5,000,000.00 | 5,000,000.00 | WG | 366 | 1,830,000,000 | 237 | 1,185,000,000 | ||
| BOND | CIBC | 5.06 | 28-Aug-2007 | 28-Aug-2008 | 1,500,000.00 | 1,500,000.00 | WG | 366 | 549,000,000 | 241 | 361,500,000 | ||
| BOND 2010 | BMO | 4.70 | 10-Sep-2007 | 10-Sep-2008 | 2,000,000.00 | 2,000,000.00 | BMO | 366 | 732,000,000 | 254 | 508,000,000 | ||
| BOND | BMO | 4.55 | 25-Sep-2007 | 25-Sep-2008 | 4,000,000.00 | 4,000,000.00 | BMO | 366 | 1,464,000,000 | 269 | 1,076,000,000 | ||
| BOND 2011 | BMO | 5.06 | 27-Sep-2007 | 27-Sep-2008 | 2,000,000.00 | 2,000,000.00 | BMO | 366 | 732,000,000 | 271 | 542,000,000 | ||
| BOND | MANITOBA | 4.76 | 01-Oct-2007 | 01-Oct-2008 | 1,500,000.00 | 1,500,000.00 | WG | 366 | 549,000,000 | 275 | 412,500,000 | ||
| BOND 2015 | MANITOBA | 4.14 | 01-Oct-2007 | 01-Oct-2008 | 3,000,000.00 | 3,000,000.00 | WG | 366 | 1,098,000,000 | 275 | 825,000,000 | ||
| BOND 2014 | ACFA | 5.06 | 22-Oct-2007 | 22-Oct-2008 | 3,990,000.00 | 4,000,000.00 | BMO | 366 | 1,460,340,000 | 296 | 1,181,040,000 | ||
| BOND 2011 | BMO | 4.50 | 27-Oct-2007 | 27-Oct-2008 | 2,000,000.00 | 2,000,000.00 | BMO | 366 | 732,000,000 | 301 | 602,000,000 | ||
| BOND 2013 | ACFA | 4.40 | 30-Oct-2007 | 30-Oct-2008 | 2,000,000.00 | 2,000,000.00 | WG | 366 | 732,000,000 | 304 | 608,000,000 | ||
| BOND | ONT | 3.84 | 04-Nov-2007 | 04-Nov-2008 | 1,000,000.00 | 1,000,000.00 | WG | 366 | 366,000,000 | 309 | 309,000,000 | ||
| BOND | ONT | 4.57 | 17-Nov-2003 | 19-Nov-2008 | 497,295.00 | 500,000.00 | CAN | 1,829 | 909,552,555 | 324 | 161,123,580 | ||
| BOND | ONT | 4.53 | 17-Nov-2003 | 19-Nov-2008 | 996,500.00 | 1,000,000.00 | CAN | 1,829 | 1,822,598,500 | 324 | 322,866,000 | ||
| BOND 2013 | ACFA | 4.65 | 20-Nov-2007 | 20-Nov-2008 | 1,000,000.00 | 1,000,000.00 | WG | 366 | 366,000,000 | 325 | 325,000,000 | ||
| BOND 2013 | ONT | 4.19 | 22-Nov-2006 | 22-Nov-2008 | 1,000,000.00 | 1,000,000.00 | WG | 731 | 731,000,000 | 327 | 327,000,000 | ||
| BOND | ONT | 3.22 | 15-Jun-2005 | 01-Dec-2008 | 3,244,932.00 | 3,000,000.00 | MER | 1,265 | 4,104,838,980 | 336 | 1,090,297,152 | ||
| BOND | FARM CREDIT | 4.35 | 01-Dec-2007 | 01-Dec-2008 | 1,000,000.00 | 1,000,000.00 | WG | 366 | 366,000,000 | 336 | 336,000,000 | ||
| BOND | MANITOBA | 4.14 | 01-Dec-2007 | 01-Dec-2008 | 2,000,000.00 | 2,000,000.00 | BMO | 366 | 732,000,000 | 336 | 672,000,000 | ||
| BOND 2013 | FARM CREDIT | 4.14 | 05-Dec-2007 | 05-Dec-2008 | 1,000,000.00 | 1,000,000.00 | WG | 366 | 366,000,000 | 340 | 340,000,000 | ||
| BOND 2013 | FARM CREDIT | 4.14 | 05-Dec-2007 | 05-Dec-2008 | 1,000,000.00 | 1,000,000.00 | WG | 366 | 366,000,000 | 340 | 340,000,000 | ||
| BOND | BNS | 4.35 | 10-Dec-2007 | 10-Dec-2008 | 2,000,000.00 | 2,000,000.00 | WG | 366 | 732,000,000 | 345 | 690,000,000 | ||
| BOND | RBC | 4.19 | 16-Dec-2007 | 16-Dec-2008 | 1,500,000.00 | 1,500,000.00 | WG | 366 | 549,000,000 | 351 | 526,500,000 | ||
| BOND | FARM CREDIT | 4.24 | 20-Dec-2007 | 20-Dec-2008 | 1,000,000.00 | 1,000,000.00 | WG | 366 | 366,000,000 | 355 | 355,000,000 | ||
| BOND | FARM CREDIT | 4.24 | 20-Dec-2007 | 20-Dec-2008 | 1,000,000.00 | 1,000,000.00 | CAN | 366 | 366,000,000 | 355 | 355,000,000 | ||
| BOND 2013 | MANITOBA | 4.24 | 31-Dec-2007 | 31-Dec-2008 | 1,000,000.00 | 1,000,000.00 | WG | 366 | 366,000,000 | 366 | 366,000,000 | ||
| Between three months and one year | 79,467,307 | 36.2% | |||||||||||
| BOND | CHT | 3.61 | 17-Mar-2004 | 15-Mar-2009 | 998,780.00 | 1,000,000.00 | WG | 1,824 | 1,821,774,720 | 440 | 439,463,200 | ||
| BOND | CHT | 4.30 | 24-Apr-2006 | 15-Mar-2009 | 2,947,500.00 | 3,000,000.00 | BMO | 1,056 | 3,112,560,000 | 440 | 1,296,900,000 | ||
| BOND | CIBC | 4.38 | 26-Mar-2004 | 26-Mar-2009 | 10,365,000.00 | 10,000,000.00 | RBC | 1,826 | 18,926,490,000 | 451 | 4,674,615,000 | ||
| BOND | ONT | 4.19 | 03-May-2004 | 19-May-2009 | 2,980,260.00 | 3,000,000.00 | RBC | 1,842 | 5,489,638,920 | 505 | 1,505,031,300 | ||
| BOND | GOV CAN | 4.20 | 10-Jul-2003 | 01-Jun-2009 | 2,138,920.00 | 2,000,000.00 | RBC | 2,153 | 4,605,094,760 | 518 | 1,107,960,560 | ||
| BOND | CMHC | 4.20 | 20-Sep-2004 | 15-Sep-2009 | 1,020,270.00 | 1,000,000.00 | WG | 1,821 | 1,857,911,670 | 624 | 636,648,480 | ||
| BOND | LONDON | 4.58 | 19-Sep-2003 | 19-Sep-2009 | 498,830.00 | 500,000.00 | WG | 2,192 | 1,093,435,360 | 628 | 313,265,240 | ||
| BOND | TORONTO | 4.59 | 25-Sep-2003 | 25-Sep-2009 | 499,100.00 | 500,000.00 | MER | 2,192 | 1,094,027,200 | 634 | 316,429,400 | ||
| BOND | TORONTO | 4.59 | 25-Sep-2003 | 25-Sep-2009 | 499,100.00 | 500,000.00 | WG | 2,192 | 1,094,027,200 | 634 | 316,429,400 | ||
| BOND | CHT | 3.63 | 27-Sep-2005 | 15-Sep-2010 | 998,910.00 | 1,000,000.00 | WG | 1,814 | 1,812,022,740 | 989 | 987,921,990 | ||
| BOND | CHT | 4.04 | 09-Dec-2005 | 15-Sep-2010 | 1,964,800.00 | 2,000,000.00 | BMO | 1,741 | 3,420,716,800 | 989 | 1,943,187,200 | ||
| BOND | CHT | 4.02 | 18-Jan-2006 | 15-Sep-2010 | 2,945,340.00 | 3,000,000.00 | BMO | 1,701 | 5,010,023,340 | 989 | 2,912,941,260 | ||
| BOND | CHT | 4.31 | 06-Apr-2006 | 15-Sep-2010 | 2,913,900.00 | 3,000,000.00 | BMO | 1,623 | 4,729,259,700 | 989 | 2,881,847,100 | ||
| BOND | TORONTO | 4.80 | 25-Sep-2003 | 25-Sep-2010 | 499,900.00 | 500,000.00 | WG | 2,557 | 1,278,244,300 | 999 | 499,400,100 | ||
| BOND | CHT | 4.26 | 29-Mar-2006 | 15-Mar-2011 | 1,984,980.00 | 2,000,000.00 | WG | 1,812 | 3,596,783,760 | 1,170 | 2,322,426,600 | ||
| BOND | YORK | 4.21 | 25-May-2005 | 25-May-2011 | 997,900.00 | 1,000,000.00 | WG | 2,191 | 2,186,398,900 | 1,241 | 1,238,393,900 | ||
| BOND | HALTON | 4.68 | 13-Feb-2004 | 12-Feb-2012 | 989,018.00 | 991,000.00 | WG | 2,921 | 2,888,921,578 | 1,504 | 1,487,483,072 | ||
| BOND | FARM CREDIT | 5.10 | 23-Aug-2007 | 20-Apr-2012 | 2,091,390.00 | 2,165,000.00 | WG | 1,702 | 3,559,545,780 | 1,572 | 3,287,665,080 | ||
| BOND | ONT | 4.78 | 18-Sep-2007 | 02-Dec-2012 | 1,491,750.00 | 1,500,000.00 | WG | 1,902 | 2,837,308,500 | 1,798 | 2,682,166,500 | ||
| BOND | ONT | 4.90 | 15-Oct-2007 | 02-Dec-2012 | 1,978,600.00 | 2,000,000.00 | WG | 1,875 | 3,709,875,000 | 1,798 | 3,557,522,800 | ||
| BOND | BCMFA | 5.03 | 22-Apr-2004 | 22-Apr-2013 | 998,900.00 | 1,000,000.00 | CAN | 3,287 | 3,283,384,300 | 1,939 | 1,936,867,100 | ||
| BOND | TD | 5.15 | 28-Nov-2007 | 03-Jun-2013 | 5,143,750.00 | 5,000,000.00 | BMO | 2,014 | 10,359,512,500 | 1,981 | 10,189,768,750 | ||
| BOND | YORK | 4.04 | 27-Sep-2005 | 27-Sep-2013 | 1,986,000.00 | 2,000,000.00 | WG | 2,922 | 5,803,092,000 | 2,097 | 4,164,642,000 | ||
| BOND | ON | 5.05 | 08-Oct-2004 | 08-Mar-2014 | 1,000,830.00 | 1,000,000.00 | CAN | 3,438 | 3,440,853,540 | 2,259 | 2,260,874,970 | ||
| BOND | CIBC | 4.84 | 14-Mar-2005 | 22-Dec-2014 | 1,994,880.00 | 2,000,000.00 | WG | 3,570 | 7,121,721,600 | 2,548 | 5,082,954,240 | ||
| BOND | ONT | 4.28 | 22-Jul-2005 | 08-Mar-2015 | 1,021,050.00 | 1,000,000.00 | WG | 3,516 | 3,590,011,800 | 2,624 | 2,679,235,200 | ||
| BOND | ONT | 4.32 | 24-Oct-2005 | 08-Mar-2015 | 3,052,200.00 | 3,000,000.00 | RBC | 3,422 | 10,444,628,400 | 2,624 | 8,008,972,800 | ||
| BOND | ONT | 4.47 | 26-Apr-2007 | 08-Mar-2017 | 1,485,315.00 | 1,500,000.00 | WG | 3,604 | 5,353,075,260 | 3,355 | 4,983,231,825 | ||
| BOND | YORK REGION | 4.66 | 30-May-2007 | 30-May-2017 | 1,999,200.00 | 2,000,000.00 | WG | 3,653 | 7,303,077,600 | 3,438 | 6,873,249,600 | ||
| BOND | RBC | 5.26 | 10-Oct-2007 | 04-Nov-2018 | 3,039,990.00 | 3,000,000.00 | BMO | 4,043 | 12,290,679,570 | 3,961 | 12,041,400,390 | ||
| Over 1 year | 62,526,363 | 28.4% | |||||||||||
| Portfolio excluding Bonds | $ 73,223,540 | Average Length of Investment (days) | 848.3 | ||||||||||
| Bond Portfolio | $ 146,488,170 | ||||||||||||
| Weighted Average Days to Maturity | 528.0 | ||||||||||||
| Portfolio Balance Dec 31, 2007 | $ 219,711,710 | ||||||||||||
| General Fund and Other Reserves | |||||||||||||
| (not including DCA) | |||||||||||||