S-30.1 - Act respecting municipal and intermunicipal transit authorities

Section 99 Disposition versions

1999-10-22

99. The municipalities whose territories are under the jurisdiction of an intermunicipal transit authority are jointly and severally liable toward the holders of bonds, notes and other securities issued by such transit authority for the repayment of such bonds, notes and other securities, in principal, interest and other accessories, and for all other obligations contracted by the transit authority towards such holders.

The preceding paragraph applies, with the necessary modifications, to every municipality whose territory is under the jurisdiction of a municipal transit authority.

1977, c. 64, s. 99; 1996, c. 2, s. 609; 1999, c. 40, s. 91.

1996-05-08

99. The municipalities whose territories are under the jurisdiction of an intermunicipal transit corporation are jointly and severally liable toward the holders of bonds, notes and other securities issued by such corporation for the repayment of such bonds, notes and other securities, in principal, interest and other accessories, and for all other obligations contracted by the corporation towards such holders.

The preceding paragraph applies, mutatis mutandis, to every municipality whose territory is under the jurisdiction of a municipal transit corporation.

1977, c. 64, s. 99; 1996, c. 2, s. 609.

1977-12-31

99. The municipalities under the jurisdiction of an intermunicipal transit corporation are jointly and severally liable toward the holders of bonds, notes and other securities issued by such corporation for the repayment of such bonds, notes and other securities, in principal, interest and other accessories, and for all other obligations contracted by the corporation towards such holders.

The preceding paragraph applies, mutatismutandis, to every municipality under the jurisdiction of a municipal transit corporation.

1977, c. 64, s. 99.