28. (1) Such corporation, under its corporate name, shall have perpetual succession, and may:
(1) Have a common seal and change the same at will;
(2) Acquire for the objects within its authority moveable and immoveable property by purchase, donation, devise or otherwise, and dispose of the same by onerous title, by auction, by public tenders, or in any other manner approved by the Commission municipale du Québec, when no longer required;
(2.1) Lease premises, booths or stands in municipal immoveables, parks or public places, and fix the conditions for their lease, use and operation;
(3) Enter into contracts, transact, bind and oblige itself and others to itself, within its powers;
(4) Subject to the provisions of this act, subscribe, draw, endorse, transfer, negotiate, give, accept or receive promissory notes, bills of exchange, cheques, bonds, debentures or other securities, whether negotiable or not, in the execution of any of the powers, rights and attributes conferred upon it by law and of any of the duties and obligations devolving upon it;
(5) Sue and be sued; and
(6) Generally exercise all the powers vested in it by law or which are necessary for the accomplishment of the duties imposed by law upon it.
(2) Such corporation may also:
(a) assist in the undertaking and furtherance, in the municipality and elsewhere, of works of charity, education, scientific, artistic or literary culture, youth training, and generally of any social welfare enterprise of the population;
(b) assist in the organization of recreational guidance centres and public places for sports and amusements;
(c) found and maintain bodies for industrial, commercial or tourist promotion and promote physical and cultural activities among the residents of the municipality or assist in their foundation and maintenance;
(d) grant subsidies to institutions, societies or corporations devoted to the pursuit of the aforesaid purposes;
(e) entrust to non-profit institutions, societies or corporations the organization and management, for the account of the municipal corporation, of activities or bodies mentioned in paragraphs b and c of this subsection and, for such purpose, make contracts with them and grant them the necessary funds.
The council of the municipal corporation may exercise by resolution the powers enumerated in this subsection.
The total amount which the corporation may appropriate each year for the purposes of this subsection shall not exceed the budgetary percentage previously approved by the Minister of Municipal Affairs and the Commission municipale du Québec. Such approval is valid as long as it is not revoked or modified.
(3) The corporation may also, with the previous authorization of the Minister of Municipal Affairs and of the Commission municipale du Québec, stand surety for any institution, society or corporation whose object is the organizing of a recreation centre or a public place for sports and amusements or which is devoted to the promotion of industry, commerce or tourism, or whose object is to organize and promote physical and cultural activities among the residents of the municipality.
(4) Notwithstanding paragraph 2 of subsection 1, the corporation may dispose by onerous title, without formality or special authorization, of moveable property of a value of less than $1 000, if the clerk has posted at the office of the corporation prior public notice thereof of at least ten days.