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C-19 - Cities and Towns Act

Section 488.1
Disposition versions

Full text
488.1. Where the loan ordered by by-law is insufficient to cover the cost of carrying out the object of the by-law, the municipality shall allocate for that purpose the missing amount out of the general fund.
Where the tax imposed to reimburse the loan is to be borne by part only of the owners of taxable immovables in the territory of the municipality, the council may, by by-law, impose a special tax on those immovables to pay into the general fund a sum equal to the sum withdrawn under the first paragraph. The tax may be imposed in respect of a period not exceeding the term of repayment of the loan.
Where the tax imposed to reimburse the loan is to be borne by both the municipality and by part only of the owners of taxable immovables in the territory of the municipality, the second paragraph applies except that the council shall
(1)  take into account the cause of the insufficiency of funds in apportioning the tax imposed to reimburse the loan;
(2)  comply with the proportion fixed for the apportionment of the tax, subject to paragraph 1.
1984, c. 38, s. 27; 1996, c. 2, s. 187.
488.1. Where the loan ordered by by-law is insufficient to cover the cost of carrying out the object of the by-law, the corporation shall allocate for that purpose the missing amount out of the general fund.
Where the tax imposed to reimburse the loan is to be borne by part only of the owners of taxable immovables in the municipality, the council may, by by-law, impose a special tax on those immovables to pay into the general fund a sum equal to the sum withdrawn under the first paragraph. The tax may be imposed in respect of a period not exceeding the term of repayment of the loan.
Where the tax imposed to reimburse the loan is to be borne by both the corporation and by part only of the owners of taxable immovables in the municipality, the second paragraph applies except that the council shall
(1)  take into account the cause of the insufficiency of funds in apportioning the tax imposed to reimburse the loan;
(2)  comply with the proportion fixed for the apportionment of the tax, subject to paragraph 1.
1984, c. 38, s. 27.
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