C-37.2 - Act respecting the Communauté urbaine de Montréal

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298. Without affecting the rights of third parties, from 1 January 1970, all the assets acquired by the City of Montréal out of the proceeds of the loans contracted by such city through bonds for the construction and equipping of the Metro or imputed by the city to such loans, and all the fruits of such assets, shall belong to the Commission acting as mandatary of the Community.
Where the Commission alienates such assets it must inform the Community, which may then prescribe that the proceeds of such disposition must be remitted to the Community to be used exclusively for the purposes mentioned in the last paragraph of section 297.
1969, c. 84, s. 320; 1972, c. 73, s. 21.