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C-27.1 - Municipal Code of Québec

Section 203
Disposition versions

Full text
203. The clerk-treasurer shall collect all moneys payable to the municipality and, subject to all other legal provisions shall deposit the same in any bank or any deposit institution authorized under the Deposit Institutions and Deposit Protection Act (chapter I-13.2.2) which may be designated by the council, and allow them to remain there until they are employed for the purposes for which they were levied, or until disposed of by the council. He may also, with the prior authorization of the council, invest such moneys in any bank or any deposit institution authorized under the Deposit Institutions and Deposit Protection Act which may be designated by the council, or purchase securities issued or guaranteed by the Government of Canada, the Gouvernement du Québec or the government of another Canadian province or securities issued or guaranteed by a municipality or by a mandatary body of a municipality or supramunicipal body within the meaning of sections 18 and 19 of the Act respecting the Pension Plan of Elected Municipal Officers (chapter R-9.3).
The council may invest the moneys mentioned in the first paragraph in the purchase of securities in a mutual fund which is managed by a financial institution, and all the securities of which are held by municipalities, by bodies referred to in section 18 of the Act respecting the Pension Plan of Elected Municipal Officers, by school service centres or by school boards or by two or more such entities. The investments made by such a fund must be limited to those set out in the first paragraph.
The Minister may, by regulation, determine other securities in which the council may invest, through the agency of the mutual fund referred to in the second paragraph, the moneys mentioned in the first paragraph, or determine the forms of investment in which the council may invest the moneys through the agency of such a fund.
All cheques issued and promissory notes or other securities executed by the municipality must be signed jointly by the mayor and the clerk-treasurer or, in case of the absence or inability to act of the mayor or of a vacancy in the office of mayor, by any member of the council previously authorized and by the clerk-treasurer.
M.C. 1916, a. 165; 1939, c. 98, s. 1; 1968, c. 86, s. 5; 1979, c. 36, s. 10; 1992, c. 27, s. 33; 1994, c. 33, s. 28; 1996, c. 2, s. 455; 1996, c. 77, s. 24; 1997, c. 41, s. 66; 1997, c. 93, s. 74; 2000, c. 29, s. 627; 2006, c. 50, s. 123; 2009, c. 26, s. 27; 2018, c. 23, s. 739; 2018, c. 5, s. 65; 2020, c. 1, s. 309; 2021, c. 31, s. 132.
203. The secretary-treasurer shall collect all moneys payable to the municipality and, subject to all other legal provisions shall deposit the same in any bank or any deposit institution authorized under the Deposit Institutions and Deposit Protection Act (chapter I-13.2.2) which may be designated by the council, and allow them to remain there until they are employed for the purposes for which they were levied, or until disposed of by the council. He may also, with the prior authorization of the council, invest such moneys in any bank or any deposit institution authorized under the Deposit Institutions and Deposit Protection Act which may be designated by the council, or purchase securities issued or guaranteed by the Government of Canada, the Gouvernement du Québec or the government of another Canadian province or securities issued or guaranteed by a municipality or by a mandatary body of a municipality or supramunicipal body within the meaning of sections 18 and 19 of the Act respecting the Pension Plan of Elected Municipal Officers (chapter R-9.3).
The council may invest the moneys mentioned in the first paragraph in the purchase of securities in a mutual fund which is managed by a financial institution, and all the securities of which are held by municipalities, by bodies referred to in section 18 of the Act respecting the Pension Plan of Elected Municipal Officers, by school service centres or by school boards or by two or more such entities. The investments made by such a fund must be limited to those set out in the first paragraph.
The Minister may, by regulation, determine other securities in which the council may invest, through the agency of the mutual fund referred to in the second paragraph, the moneys mentioned in the first paragraph, or determine the forms of investment in which the council may invest the moneys through the agency of such a fund.
All cheques issued and promissory notes or other securities executed by the municipality must be signed jointly by the mayor and the secretary-treasurer or, in case of the absence or inability to act of the mayor or of a vacancy in the office of mayor, by any member of the council previously authorized and by the secretary-treasurer.
M.C. 1916, a. 165; 1939, c. 98, s. 1; 1968, c. 86, s. 5; 1979, c. 36, s. 10; 1992, c. 27, s. 33; 1994, c. 33, s. 28; 1996, c. 2, s. 455; 1996, c. 77, s. 24; 1997, c. 41, s. 66; 1997, c. 93, s. 74; 2000, c. 29, s. 627; 2006, c. 50, s. 123; 2009, c. 26, s. 27; 2018, c. 23, s. 739; 2018, c. 5, s. 65; 2020, c. 1, s. 309.
203. The secretary-treasurer shall collect all moneys payable to the municipality and, subject to all other legal provisions shall deposit the same in any bank or any deposit institution authorized under the Deposit Institutions and Deposit Protection Act (chapter I-13.2.2) which may be designated by the council, and allow them to remain there until they are employed for the purposes for which they were levied, or until disposed of by the council. He may also, with the prior authorization of the council, invest such moneys in any bank or any deposit institution authorized under the Deposit Institutions and Deposit Protection Act which may be designated by the council, or purchase securities issued or guaranteed by the Government of Canada, the Gouvernement du Québec or the government of another Canadian province or securities issued or guaranteed by a municipality or by a mandatary body of a municipality or supramunicipal body within the meaning of sections 18 and 19 of the Act respecting the Pension Plan of Elected Municipal Officers (chapter R-9.3).
The council may invest the moneys mentioned in the first paragraph in the purchase of securities in a mutual fund which is managed by a financial institution, and all the securities of which are held by municipalities, by bodies referred to in section 18 of the Act respecting the Pension Plan of Elected Municipal Officers, by school boards or by two or more such entities. The investments made by such a fund must be limited to those set out in the first paragraph.
The Minister may, by regulation, determine other securities in which the council may invest, through the agency of the mutual fund referred to in the second paragraph, the moneys mentioned in the first paragraph, or determine the forms of investment in which the council may invest the moneys through the agency of such a fund.
All cheques issued and promissory notes or other securities executed by the municipality must be signed jointly by the mayor and the secretary-treasurer or, in case of the absence or inability to act of the mayor or of a vacancy in the office of mayor, by any member of the council previously authorized and by the secretary-treasurer.
M.C. 1916, a. 165; 1939, c. 98, s. 1; 1968, c. 86, s. 5; 1979, c. 36, s. 10; 1992, c. 27, s. 33; 1994, c. 33, s. 28; 1996, c. 2, s. 455; 1996, c. 77, s. 24; 1997, c. 41, s. 66; 1997, c. 93, s. 74; 2000, c. 29, s. 627; 2006, c. 50, s. 123; 2009, c. 26, s. 27; 2018, c. 23, s. 739; 2018, c. 5, s. 65.
203. The secretary-treasurer shall collect all moneys payable to the municipality and, subject to all other legal provisions shall deposit the same in any bank or any deposit institution authorized under the Deposit Institutions and Deposit Protection Act (chapter I-13.2.2) which may be designated by the council, and allow them to remain there until they are employed for the purposes for which they were levied, or until disposed of by the council. He may also, with the prior authorization of the council, invest such moneys in any bank or any deposit institution authorized under the Deposit Institutions and Deposit Protection Act which may be designated by the council, or purchase securities issued or guaranteed by the Government of Canada, the Gouvernement du Québec or the government of another Canadian province or securities issued or guaranteed by a municipality or by a mandatary body of a municipality or supramunicipal body within the meaning of sections 18 and 19 of the Act respecting the Pension Plan of Elected Municipal Officers (chapter R-9.3).
The council may invest the moneys mentioned in the first paragraph in the purchase of securities in a mutual fund which is managed by a financial institution, and all the securities of which are held by municipalities, by bodies referred to in section 18 of the Act respecting the Pension Plan of Elected Municipal Officers, by school boards or by two or more such entities. The investments made by such a fund must be limited to those set out in the first paragraph.
The Minister may, by regulation, determine other securities in which the council may invest, through the agency of the mutual fund referred to in the second paragraph, the moneys mentioned in the first paragraph, or determine the forms of investment in which the council may invest the moneys through the agency of such a fund.
He also collects the school taxes under article 986.
All cheques issued and promissory notes or other securities executed by the municipality must be signed jointly by the mayor and the secretary-treasurer or, in case of the absence or inability to act of the mayor or of a vacancy in the office of mayor, by any member of the council previously authorized and by the secretary-treasurer.
M.C. 1916, a. 165; 1939, c. 98, s. 1; 1968, c. 86, s. 5; 1979, c. 36, s. 10; 1992, c. 27, s. 33; 1994, c. 33, s. 28; 1996, c. 2, s. 455; 1996, c. 77, s. 24; 1997, c. 41, s. 66; 1997, c. 93, s. 74; 2000, c. 29, s. 627; 2006, c. 50, s. 123; 2009, c. 26, s. 27; 2018, c. 23, s. 739.
203. The secretary-treasurer shall collect all moneys payable to the municipality and, subject to all other legal provisions shall deposit the same in any legally constituted bank, financial services cooperative or trust company which may be designated by the council, and allow them to remain there until they are employed for the purposes for which they were levied, or until disposed of by the council. He may also, with the prior authorization of the council, invest such moneys in such legally constituted bank, financial services cooperative or trust company as may be designated by the council, or purchase securities issued or guaranteed by the Government of Canada, the Gouvernement du Québec or the government of another Canadian province or securities issued or guaranteed by a municipality or by a mandatary body of a municipality or supramunicipal body within the meaning of sections 18 and 19 of the Act respecting the Pension Plan of Elected Municipal Officers (chapter R-9.3).
The council may invest the moneys mentioned in the first paragraph in the purchase of securities in a mutual fund which is managed by a financial institution, and all the securities of which are held by municipalities, by bodies referred to in section 18 of the Act respecting the Pension Plan of Elected Municipal Officers, by school boards or by two or more such entities. The investments made by such a fund must be limited to those set out in the first paragraph.
The Minister may, by regulation, determine other securities in which the council may invest, through the agency of the mutual fund referred to in the second paragraph, the moneys mentioned in the first paragraph, or determine the forms of investment in which the council may invest the moneys through the agency of such a fund.
He also collects the school taxes under article 986.
All cheques issued and promissory notes or other securities executed by the municipality must be signed jointly by the mayor and the secretary-treasurer or, in case of the absence or inability to act of the mayor or of a vacancy in the office of mayor, by any member of the council previously authorized and by the secretary-treasurer.
M.C. 1916, a. 165; 1939, c. 98, s. 1; 1968, c. 86, s. 5; 1979, c. 36, s. 10; 1992, c. 27, s. 33; 1994, c. 33, s. 28; 1996, c. 2, s. 455; 1996, c. 77, s. 24; 1997, c. 41, s. 66; 1997, c. 93, s. 74; 2000, c. 29, s. 627; 2006, c. 50, s. 123; 2009, c. 26, s. 27.
203. The secretary-treasurer shall collect all moneys payable to the municipality and, subject to all other legal provisions shall deposit the same in any legally constituted bank, financial services cooperative or trust company which may be designated by the council, and allow them to remain there until they are employed for the purposes for which they were levied, or until disposed of by the council. He may also, with the prior authorization of the council, invest such moneys for short terms in such legally constituted bank, financial services cooperative or trust company as may be designated by the council, or purchase securities issued or guaranteed by the Government of Canada, the Gouvernement du Québec or the government of another Canadian province or securities issued or guaranteed by a municipality or by a mandatary body of a municipality or supramunicipal body within the meaning of sections 18 and 19 of the Act respecting the Pension Plan of Elected Municipal Officers (chapter R-9.3).
The council may invest the moneys mentioned in the first paragraph in the purchase of securities in a mutual fund which is managed by a financial institution, and all the securities of which are held by municipalities, by bodies referred to in section 18 of the Act respecting the Pension Plan of Elected Municipal Officers, by school boards or by two or more such entities. The investments made by such a fund must be limited to those set out in the first paragraph.
The Minister may, by regulation, determine other securities in which the council may invest, through the agency of the mutual fund referred to in the second paragraph, the moneys mentioned in the first paragraph, or determine the forms of investment in which the council may invest the moneys through the agency of such a fund.
He also collects the school taxes under article 986.
All cheques issued and promissory notes or other securities executed by the municipality must be signed jointly by the mayor and the secretary-treasurer or, in case of the absence or inability to act of the mayor or of a vacancy in the office of mayor, by any member of the council previously authorized and by the secretary-treasurer.
M.C. 1916, a. 165; 1939, c. 98, s. 1; 1968, c. 86, s. 5; 1979, c. 36, s. 10; 1992, c. 27, s. 33; 1994, c. 33, s. 28; 1996, c. 2, s. 455; 1996, c. 77, s. 24; 1997, c. 41, s. 66; 1997, c. 93, s. 74; 2000, c. 29, s. 627; 2006, c. 50, s. 123.
203. The secretary-treasurer shall collect all moneys payable to the municipality and, subject to all other legal provisions shall deposit the same in any legally constituted bank, financial services cooperative or trust company which may be designated by the council, and allow them to remain there until they are employed for the purposes for which they were levied, or until disposed of by the council. He may also, with the prior authorization of the council, invest such moneys for short terms in such legally constituted bank, financial services cooperative or trust company as may be designated by the council, or purchase securities issued or guaranteed by the Government of Canada, the Gouvernement du Québec or the government of another Canadian province or securities issued or guaranteed by a municipality or by a mandatary body of a municipality or supramunicipal body within the meaning of sections 18 and 19 of the Act respecting the Pension Plan of Elected Municipal Officers (chapter R-9.3).
The council may invest the moneys mentioned in the first paragraph in the purchase of shares in an unincorporated mutual fund which is managed by a financial institution, and all the shares of which are held by municipalities, by bodies referred to in section 18 of the Act respecting the Pension Plan of Elected Municipal Officers, by school boards or by two or more such entities. The investments made by such a fund must be limited to those set out in the first paragraph.
The Minister may, by regulation, determine other securities in which the council may invest, through the agency of the unincorporated mutual fund referred to in the second paragraph, the moneys mentioned in the first paragraph, or determine the forms of investment in which the council may invest the moneys through the agency of such a fund.
He also collects the school taxes under article 986.
All cheques issued and promissory notes or other securities executed by the municipality must be signed jointly by the mayor and the secretary-treasurer or, in case of the absence or inability to act of the mayor or of a vacancy in the office of mayor, by any member of the council previously authorized and by the secretary-treasurer.
M.C. 1916, a. 165; 1939, c. 98, s. 1; 1968, c. 86, s. 5; 1979, c. 36, s. 10; 1992, c. 27, s. 33; 1994, c. 33, s. 28; 1996, c. 2, s. 455; 1996, c. 77, s. 24; 1997, c. 41, s. 66; 1997, c. 93, s. 74; 2000, c. 29, s. 627.
203. The secretary-treasurer shall collect all moneys payable to the municipality and, subject to all other legal provisions shall deposit the same in any legally constituted bank, savings and credit union or trust company which may be designated by the council, and allow them to remain there until they are employed for the purposes for which they were levied, or until disposed of by the council. He may also, with the prior authorization of the council, invest such moneys for short terms in such legally constituted bank, savings and credit union or trust company as may be designated by the council, or purchase securities issued or guaranteed by the Government of Canada, the Gouvernement du Québec or the government of another Canadian province or securities issued or guaranteed by a municipality or by a mandatary body of a municipality or supramunicipal body within the meaning of sections 18 and 19 of the Act respecting the Pension Plan of Elected Municipal Officers (chapter R-9.3).
The council may invest the moneys mentioned in the first paragraph in the purchase of shares in an unincorporated mutual fund which is managed by a financial institution, and all the shares of which are held by municipalities, by bodies referred to in section 18 of the Act respecting the Pension Plan of Elected Municipal Officers, by school boards or by two or more such entities. The investments made by such a fund must be limited to those set out in the first paragraph.
The Minister may, by regulation, determine other securities in which the council may invest, through the agency of the unincorporated mutual fund referred to in the second paragraph, the moneys mentioned in the first paragraph, or determine the forms of investment in which the council may invest the moneys through the agency of such a fund.
He also collects the school taxes under article 986.
All cheques issued and promissory notes or other securities executed by the municipality must be signed jointly by the mayor and the secretary-treasurer or, in case of the absence or inability to act of the mayor or of a vacancy in the office of mayor, by any member of the council previously authorized and by the secretary-treasurer.
M.C. 1916, a. 165; 1939, c. 98, s. 1; 1968, c. 86, s. 5; 1979, c. 36, s. 10; 1992, c. 27, s. 33; 1994, c. 33, s. 28; 1996, c. 2, s. 455; 1996, c. 77, s. 24; 1997, c. 41, s. 66; 1997, c. 93, s. 74.
203. The secretary-treasurer shall collect all moneys payable to the municipality and, subject to all other legal provisions shall deposit the same in any legally constituted bank, savings and credit union or trust company which may be designated by the council, and allow them to remain there until they are employed for the purposes for which they were levied, or until disposed of by the council. He may also, with the prior authorization of the council, invest such moneys for short terms in such legally constituted bank, savings and credit union or trust company as may be designated by the council, or purchase securities issued or guaranteed by the Government of Canada, the Gouvernement du Québec or the government of another Canadian province or securities issued or guaranteed by a municipality or by a mandatary body of a municipality or supramunicipal body within the meaning of sections 18 and 19 of the Act respecting the Pension Plan of Elected Municipal Officers (chapter R-9.3).
The council may invest the moneys mentioned in the first paragraph in the purchase of shares in an unincorporated mutual fund which is managed by a financial institution, and all the shares of which are held by municipalities, by bodies referred to in section 18 of the Act respecting the Pension Plan of Elected Municipal Officers, or by municipalities and such bodies. The investments made by such a fund must be limited to those set out in the first paragraph.
The Minister may, by regulation, determine other securities in which the council may invest, through the agency of the unincorporated mutual fund referred to in the second paragraph, the moneys mentioned in the first paragraph, or determine the forms of investment in which the council may invest the moneys through the agency of such a fund.
He also collects the school taxes under article 986.
All cheques issued and promissory notes or other securities executed by the municipality must be signed jointly by the mayor and the secretary-treasurer or, in case of the absence or inability to act of the mayor or of a vacancy in the office of mayor, by any member of the council previously authorized and by the secretary-treasurer.
M.C. 1916, a. 165; 1939, c. 98, s. 1; 1968, c. 86, s. 5; 1979, c. 36, s. 10; 1992, c. 27, s. 33; 1994, c. 33, s. 28; 1996, c. 2, s. 455; 1996, c. 77, s. 24; 1997, c. 41, s. 66.
203. The secretary-treasurer shall collect all moneys payable to the municipality and, subject to all other legal provisions shall deposit the same in any legally constituted bank, savings and credit union or trust company which may be designated by the council, and allow them to remain there until they are employed for the purposes for which they were levied, or until disposed of by the council. He may also, with the prior authorization of the council, invest such moneys for short terms in such legally constituted bank, savings and credit union or trust company as may be designated by the council, or purchase securities issued or guaranteed by the Government of Canada, the Gouvernement du Québec or the government of another Canadian province or securities issued by a municipality or by a mandatary body of a municipality or supramunicipal body within the meaning of sections 18 and 19 of the Act respecting the Pension Plan of Elected Municipal Officers (chapter R-9.3).
The council may invest the moneys mentioned in the first paragraph in the purchase of shares in an unincorporated mutual fund which is managed by a financial institution, and all the shares of which are held by municipalities, by bodies referred to in section 18 of the Act respecting the Pension Plan of Elected Municipal Officers, or by municipalities and such bodies. The investments made by such a fund must be limited to those set out in the first paragraph.
The Minister may, by regulation, determine other securities in which the council may invest, through the agency of the unincorporated mutual fund referred to in the second paragraph, the moneys mentioned in the first paragraph, or determine the forms of investment in which the council may invest the moneys through the agency of such a fund.
He also collects the school taxes under article 986.
All cheques issued and promissory notes or other securities executed by the municipality must be signed jointly by the mayor and the secretary-treasurer or, in case of the absence or inability to act of the mayor or of a vacancy in the office of mayor, by any member of the council previously authorized and by the secretary-treasurer.
M.C. 1916, a. 165; 1939, c. 98, s. 1; 1968, c. 86, s. 5; 1979, c. 36, s. 10; 1992, c. 27, s. 33; 1994, c. 33, s. 28; 1996, c. 2, s. 455; 1996, c. 77, s. 24.
203. The secretary-treasurer shall collect all moneys payable to the municipality and, subject to all other legal provisions shall deposit the same in any legally constituted bank, savings and credit union or trust company which may be designated by the council, and allow them to remain there until they are employed for the purposes for which they were levied, or until disposed of by the council. He may also, with the prior authorization of the council, invest such moneys for short terms in such legally constituted bank, savings and credit union or trust company as may be designated by the council, or purchase securities issued or guaranteed by the Government of Canada, the Gouvernement du Québec or the government of another Canadian province or securities issued by a municipality or by a mandatary body of a municipality or supramunicipal body within the meaning of sections 18 and 19 of the Act respecting the Pension Plan of Elected Municipal Officers (chapter R-9.3).
The council may invest the moneys mentioned in the first paragraph in the purchase of shares in an unincorporated mutual fund which is managed by a financial institution, and all the shares of which are held by municipalities. The investments made by such a fund must be limited to those set out in the first paragraph.
The Minister may, by regulation, determine other securities in which the council may invest, through the agency of the unincorporated mutual fund referred to in the second paragraph, the moneys mentioned in the first paragraph, or determine the forms of investment in which the council may invest the moneys through the agency of such a fund.
He also collects the school taxes under article 986.
All cheques issued and promissory notes or other securities executed by the municipality must be signed jointly by the mayor and the secretary-treasurer or, in case of the absence or inability to act of the mayor or of a vacancy in the office of mayor, by any member of the council previously authorized and by the secretary-treasurer.
M.C. 1916, a. 165; 1939, c. 98, s. 1; 1968, c. 86, s. 5; 1979, c. 36, s. 10; 1992, c. 27, s. 33; 1994, c. 33, s. 28; 1996, c. 2, s. 455.
203. The secretary-treasurer shall collect all moneys payable to the corporation and, subject to all other legal provisions shall deposit the same in any legally constituted bank, savings and credit union or trust company which may be designated by the council, and allow them to remain there until they are employed for the purposes for which they were levied, or until disposed of by the council. He may also, with the prior authorization of the council, invest such moneys for short terms in such legally constituted bank, savings and credit union or trust company as may be designated by the council, or purchase securities issued or guaranteed by the Government of Canada, the Gouvernement du Québec or the government of another Canadian province or securities issued by a municipality or by a mandatary body of a municipality or supramunicipal body within the meaning of sections 18 and 19 of the Act respecting the Pension Plan of Elected Municipal Officers (chapter R-9.3).
The council may invest the moneys mentioned in the first paragraph in the purchase of shares in an unincorporated mutual fund which is managed by a financial institution, and all the shares of which are held by municipalities. The investments made by such a fund must be limited to those set out in the first paragraph.
The Minister may, by regulation, determine other securities in which the council may invest, through the agency of the unincorporated mutual fund referred to in the second paragraph, the moneys mentioned in the first paragraph, or determine the forms of investment in which the council may invest the moneys through the agency of such a fund.
He also collects the school taxes under article 986.
All cheques issued and promissory notes or other securities executed by the corporation must be signed jointly by the mayor and the secretary-treasurer or, in case of the absence or inability to act of the mayor or of a vacancy in the office of mayor, by any member of the council previously authorized and by the secretary-treasurer.
M.C. 1916, a. 165; 1939, c. 98, s. 1; 1968, c. 86, s. 5; 1979, c. 36, s. 10; 1992, c. 27, s. 33; 1994, c. 33, s. 28.
203. The secretary-treasurer shall collect all moneys payable to the corporation and, subject to all other legal provisions shall deposit the same in any legally constituted bank, savings and credit union or trust company which may be designated by the council, and allow them to remain there until they are employed for the purposes for which they were levied, or until disposed of by the council. He may also, with the prior authorization of the council, invest such moneys for short terms in such legally constituted bank, savings and credit union or trust company as may be designated by the council, or purchase securities issued or guaranteed by the Government of Canada, the Gouvernement du Québec or the government of another Canadian province or securities issued by a municipality or by a mandatary body of a municipality or supramunicipal body within the meaning of sections 18 and 19 of the Act respecting the Pension Plan of Elected Municipal Officers (chapter R-9.3).
He also collects the school taxes under article 986.
All cheques issued and promissory notes or other securities executed by the corporation must be signed jointly by the mayor and the secretary-treasurer or, in case of the absence or inability to act of the mayor or of a vacancy in the office of mayor, by any member of the council previously authorized and by the secretary-treasurer.
M.C. 1916, a. 165; 1939, c. 98, s. 1; 1968, c. 86, s. 5; 1979, c. 36, s. 10; 1992, c. 27, s. 33.
203. The secretary-treasurer shall collect all moneys payable to the corporation and, subject to all other legal provisions shall deposit the same in any legally constituted bank, savings and credit union or trust company which may be designated by the council, and allow them to remain there until they are employed for the purposes for which they were levied, or until disposed of by the council. He may also, with the prior authorization of the council, invest such moneys for short terms in such legally constituted bank, savings and credit union or trust company as may be designated by the council, or purchase securities issued or guaranteed by the Government of Canada, the Gouvernement du Québec or the government of another Canadian province.
He also collects the school taxes under article 986.
All cheques issued and promissory notes executed by the corporation must be signed jointly by the mayor and the secretary-treasurer or, in case of the absence or inability to act of the mayor or of a vacancy in the office of mayor, by any member of the council previously authorized and by the secretary-treasurer.
M.C. 1916, a. 165; 1939, c. 98, s. 1; 1968, c. 86, s. 5; 1979, c. 36, s. 10.
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