S-30.1 - Act respecting municipal and intermunicipal transit authorities

Section 95 Disposition versions

1999-10-27

95. The transit authority may, by resolution, order temporary loans for the payment of current administration expenses and contract them on the conditions and for the term it determines.

The transit authority may also contract loans under the first paragraph for the payment of all or part of the expenses made under a loan by-law. If, in that case, the amount exceeds 90% of that of the securities the issue of which is authorized by the by-law, the transit authority shall obtain prior authorization from the Minister of Municipal Affairs and Greater Montréal.

1977, c. 64, s. 95; 1984, c. 38, s. 142; 1999, c. 40, s. 91; 1999, c. 43, s. 13.

1999-10-22

95. The transit authority may, by resolution, order temporary loans for the payment of current administration expenses and contract them on the conditions and for the term it determines.

The transit authority may also contract loans under the first paragraph for the payment of all or part of the expenses made under a loan by-law. If, in that case, the amount exceeds 90% of that of the securities the issue of which is authorized by the by-law, the transit authority shall obtain prior authorization from the Minister of Municipal Affairs.

1977, c. 64, s. 95; 1984, c. 38, s. 142; 1999, c. 40, s. 91.

1985-01-01

95. The corporation may, by resolution, order temporary loans for the payment of current administration expenses and contract them on the conditions and for the term it determines.

The corporation may also contract loans under the first paragraph for the payment of all or part of the expenses made under a loan by-law. If, in that case, the amount exceeds 90% of that of the securities the issue of which is authorized by the by-law, the corporation shall obtain prior authorization from the Minister of Municipal Affairs.

1977, c. 64, s. 95; 1984, c. 38, s. 142.

1977-12-31

95. The loans of the corporation shall be ordered by by-law, except in the case of loans by note the term for repayment of which does not exceed one year; in the latter case, a mere resolution approved by the Commission municipale du Québec shall be sufficient.

However, where a loan is ordered by by-law, the corporation may make any temporary loan with the approval of the Commission municipale du Québec, for the term and on the conditions it considers expedient while awaiting conclusion of the permanent loan.

1977, c. 64, s. 95.