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D-7 - Act respecting municipal debts and loans

Section 31
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31. Where the interest for one year or more on a debenture, or the principal of one of a series of debentures, issued under a loan by-law, has been paid by the municipality which has issued such debentures, the by-law authorizing such issue, and the debentures issued thereunder, shall thereupon become valid and binding upon such municipality.
R. S. 1964, c. 171, s. 30; 1996, c. 2, s. 627.
31. Where the interest for one year or more on a debenture, or the principal of one of a series of debentures, issued under a loan by-law, has been paid by the municipal or other corporation which has issued such debentures, the by-law authorizing such issue, and the debentures issued thereunder, shall thereupon become valid and binding upon such corporation.
R. S. 1964, c. 171, s. 30.
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