The Ontario government announced Tuesday that it is extending sales of Ontario Opportunity Bonds to May 13, to allow more Ontario residents to buy the bonds.

“We are well past $100 million in sales, so we wanted to continue the sale period for investors and increase support for infrastructure projects in towns and cities across Ontario,” said Finance Minister Janet Ecker.

Ontario Opportunity Bonds are available only to Ontario residents in amounts of $100 to $500,000 and the interest is exempt from Ontario income tax. The bonds are issued by the Ontario Municipal Economic Infrastructure Financing Authority , which is providing loans to help municipalities access funds at 50% reduced interest. This will allow communities to finance local infrastructure investments at lower carrying costs.

“We are delighted with sales of this new and worthwhile investment option for the people of Ontario,” Ecker said. “Ontario Opportunity Bonds, based on the province’s strong economy, are good for investors, good for communities and good for the future of Ontario.”