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C-19 - Cities and Towns Act
Section 569.0.2
Disposition versions
569.0.2. If the loan is used to pay a capital expenditure incurred for the benefit of a specific sector of the territory of the municipality, the council may decide to reimburse the fund by means of either a special tax imposed on all the taxable immovables situated in the sector or compensation payable by the owners or occupants of those immovables.
In such a case, the council shall authorize the loan from the working fund by a by-law that specifies the amount of the loan and contains a detailed description of the expenditure. The by-law must also specify the term of repayment, which is not to exceed 10 years, and must impose a special tax on all the taxable immovables situated in the sector or require compensation from the owners or occupants of those immovables.
