28. When a municipal corporation is concerned, the approval mentioned in section 25 or 27 is obtained upon application made by mere resolution and submitted to the Commission:
(a) After approval of the loan by-law by the electors who are property-owners when that formality is required or after the adoption of such by-law by the council in other cases; or
(b) After the adoption of the proceeding authorizing an agreement or the issue of a note.
In the cases referred to in this section, the delays on proceedings shall cease to run from the date of the resolution applying for such approval until the date of the receipt by the municipal corporation of the decision of the Commission upon such application.
R. S. 1964, c. 170, s. 26; 1965 (1st sess.), c. 55, s. 7.