1084. When the repayment of a loan is to be borne by the owners of immovable property of part only of the municipality or by persons benefiting from any work determined in article 979, the tax to be levied each year, during the term of the loan, shall be imposed only on the property owners concerned and must be sufficient to pay the interest each year and make up the capital repayable at the maturity of the bonds. In such a case, the property owners liable, who are municipal electors, are alone entitled to vote for the approval or disapproval of the by-law, and the by-law is deemed to be approved if it has been so done by the majority in number and in value of the said property owners who are electors and liable.
The rules provided in the first paragraph concerning the approval or disapproval of the by-law apply where 75% or more of the loan to be repaid is charged to the owners of immovable property of part only of the municipality or to the persons benefiting from the work as determined pursuant to article 979, as if the repayment of the loan were entirely charged to them. For the purposes of this paragraph, no part of the municipality may consist of the combination of several separate parts contemplated in the by-law if 75% or more of the loan to be repaid is charged to the owners of immovables of any one of those parts; the aggregate of the immovables of the persons who benefit from the works is such a separate part.
1927, c. 74, s. 15; 1928, c. 94, s. 22; 1979, c. 36, s. 53; 1984, c. 38, s. 85; 1985, c. 27, s. 69; 1986, c. 32, s. 19.