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S-41 - Act respecting municipal and private electric power systems
Section 5
Disposition versions
5. The municipal council is vested with all necessary powers to establish and administer the electricity system.
It may, in order to meet the interest on the sums expended for the establishment thereof and to create a sinking fund, impose, by by-law, on all owners or occupants of houses, shops or other buildings, a special annual tax on the assessed value of such houses, buildings and establishments, including the ground.
The sinking fund created in virtue of the preceding paragraph shall be invested and administered in the same manner as that mentioned in section 548 of the Cities and Towns Act (chapter C‐19).
5. The municipal council is vested with all necessary powers to establish and administer the electricity system contemplated by the by-law.
It may, in order to meet the interest on the sums expended for the establishment thereof and to create a sinking-fund, impose, by by-law, on all owners or occupants of houses, shops or other buildings, a special annual tax on the assessed value of such houses, buildings and establishments, including the ground.
The sinking-fund created in virtue of the preceding paragraph shall be invested and administered in the same manner as that mentioned in section 548 of the Cities and Towns Act (chapter C-19).
