479. (1) Between 1 July and 31 July each year, the council shall prepare and adopt, by by-law, the budget for the next fiscal year and provide therein for revenues at least equal to the expenditures provided for therein.
(2) The Minister may determine the contents of a document to be certified by the treasurer, which shall be appended to the budget of the corporation upon its filling and remain so appended.
“The document contemplated in the first paragraph shall be prepared in accordance with a form supplied by the Minister.
“(3) The budget of the corporation must be transmitted to the Minister in the month of August of the year for which it was prepared and adopted.
“The Minister may order that such transmission be made by means of a form which he shall furnish for that purpose.
“Upon sufficient proof that the corporation has in fact been unable to prepare, adopt and put into effect or to transmit its budget within the prescribed delay, the Minister may grant any additional delay that he may determine for such purpose.
“517. Taxes shall bear interest, at the rate of 5 per cent per annum, from maturity, without it being for such purpose necessary that a special demand for payment be made.
Neither the municipal council nor its employees may remit any taxes or the interest thereon.
However, at any time before the tax accounts begin to be sent, the council, as often as it considers it expedient, may, by resolution, enact a rate of interest different from the rate provided in the first paragraph. The decision of the council shall be effective only with respect to taxes shown in an account clearly stating the rate thus enacted. The resolution of the council shall remain in force until it is revoked.
The council may also, by resolution, grant a discount not exceeding 5 per cent, to every ratepayer who pays his taxes before they are due.”