C-11.4 - Charter of Ville de Montréal, metropolis of Québec

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85.4. The city council may adopt a resolution setting out rules governing the establishment and updating of the allotment referred to in section 143 and rules governing the establishment of a development fund through which the city shall ensure, for a 10-year period, that the borough council receives 50% of the additional revenue generated as a result of new development projects carried out in the borough.
This resolution shall take effect as of the date on which the borough council adopts a resolution expressing its agreement with the city council resolution. It may not be amended or repealed without the agreement of the borough council.
Once the city council resolution takes effect, it is called a “borough contract”.
2003, c. 28, s. 25.