E-8.1 - Act respecting public elementary and secondary education

Full text
431. The municipal corporation shall pay the amount of the school tax to the Council not later than the first day of April each year; the remittance shall be made notwithstanding any Act governing the municipal corporation and regardless of whether that tax has been collected.
Any amount paid after the specified time bears interest at a rate equal to the maximum rate fixed under section 50 of the Act respecting municipal debts and loans from the expiration of that time. If the maximum rate is changed after the expiration of that time but before the amount is paid, the rate applicable to the amount changes from passage of the order fixing the new rate.
The municipal corporation may borrow any sufficient amount to pay the amount referred to in the first paragraph when due; the proceeds of the school taxes belong to it and it may use them to repay the loan.
1984, c. 39, s. 431.