C-27.1 - Municipal Code of Québec

Section 1077 Disposition versions

2009-06-17

2005-06-17

2003-12-18

1999-10-27

1992-06-23

1985-01-01

0001-01-01

1077. The council may, by by-law requiring only the approval of the Commission municipale du Québec, amend a loan by-law under which notes and bonds have been issued and, in particular, replace any special tax with one or more new ones, provided that such amendments do not change the object of the loan, do not increase the amount of the loan and do not reduce the security of the holders of the notes or bonds issued under such by-law.

Such a by-law must, at least 30 days before it is submitted to the Commission, be published in accordance with the procedure prescribed for the publication of public notices, with a notice stating that any person wishing to object to the approval of the by-law must so inform the Commission in writing within such 30 days. After the expiry of such period, the Commission shall inquire into the merits of the by-law and, if it has received objections, it must give the persons having the objections an opportunity to be heard.

If the special tax which the council wishes to replace has been imposed under a loan resolution, it then proceeds by resolution and the second paragraph applies mutatis mutandis to the approval thereof by the Commission.

1975, c. 82, s. 37; 1977, c. 5, s. 14.