29.3. Every convention under which a municipality makes a financial commitment for a period exceeding five years must, to be binding on it, be previously approved by the Minister of Municipal Affairs, Regions and Land Occupancy, except in the case of a convention requiring it to pay fees for professional services, a work contract or an intermunicipal agreement.
However, in the case of a municipality with a population of 100,000 or more, the five-year period mentioned in the first paragraph is replaced by a 10-year period, unless the average annual expenditures entailed by the convention for the fiscal years following the one in which the resolution authorizing the municipality to enter into the convention is adopted exceed 0.5% of the total appropriations provided for in the municipality’s budget for operating expenses for that fiscal year.
The Minister may require that the resolution or by-law ordering the financial commitment be subject to the approval of persons qualified to vote on loan by-laws according to the procedure provided for the approval of the by-laws.
1984, c. 38, s. 8; 1994, c. 33, s. 2; 1995, c. 34, s. 5; 1996, c. 2, s. 209; 1999, c. 43, s. 13; 2003, c. 19, s. 105, s. 250; 2005, c. 28, s. 196; 2009, c. 26, s. 109.