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C-37.2 - Act respecting the Communauté urbaine de Montréal

Section 226
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226. The executive committee may, by resolution, order temporary loans for the payment of current administration expenses and contract them on the conditions and for the term it determines.
The executive committee may also contract loans under the first paragraph for the payment of the expenses made under a loan by-law.
1969, c. 84, s. 260; 1977, c. 5, s. 14; 1982, c. 18, s. 95; 1984, c. 38, s. 110.
226. The loans of the Community shall be ordered by by-law, except in the case of loans by notes the term for repayment of which does not exceed one year; in the last mentioned case, a resolution shall be sufficient.
The by-law need mention only the total amount of the principal of the loan it orders, the purposes for which the proceeds of the loan are to be used and the maximum term for which it may be contracted.
1969, c. 84, s. 260; 1977, c. 5, s. 14; 1982, c. 18, s. 95.
226. The loans of the Community shall be ordered by by-law, except in the case of loans by notes the term for repayment of which does not exceed one year; in such last mentioned case, a mere resolution approved by the Commission municipale du Québec, shall be sufficient.
1969, c. 84, s. 260; 1977, c. 5, s. 14.
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