117. For the purposes of section 116, a transit authority may require that its treasurer determine in a certificate the appropriations the treasurer considers necessary for the next fiscal year for payment of the interest on securities issued or to be issued by the transit authority, for repayment or redemption of such securities and for the requirements of their sinking funds and any other charge related to the debt of the transit authority, except the amounts required in principal, interest and accessories in relation to the issue of treasury bills, loans contracted in anticipation of revenue and renewable loans falling due during the fiscal year covered by the budget.
The treasurer shall also determine in the certificate the appropriations necessary to meet, during the next fiscal year, the obligations undertaken by the transit authority during previous fiscal years. The treasurer may amend the certificate until 31 December preceding the fiscal year to which it applies if the appropriations mentioned therein have not been adopted by the city. The treasurer shall file the certificate and any amendment with the clerk of the city. The clerk shall notify the council of the city of the filing at the first sitting held after the filing.
The treasurer shall also include in the certificate referred to in the first paragraph the appropriations necessary during the next fiscal year to pay the obligations of the transit authority under collective agreements or its by-laws or under legislative or regulatory provisions adopted by the Gouvernement du Québec or the Government of Canada or any of its ministers or bodies.
2001, c. 23, s. 117; 2001, c. 66, s. 26.