C-37.2 - Act respecting the Communauté urbaine de Montréal

Section 286 Disposition versions

1999-10-22

286. The Société shall devise development policies concerning the public transport services and coordinate the development of the public transport network in its territory.

1974, c. 82, s. 41; 1982, c. 18, s. 120; 1985, c. 31, s. 23; 1999, c. 40, s. 68.

1985-06-20

286. The corporation shall devise development policies concerning the public transport services and coordinate the development of the public transport network in its territory.

1974, c. 82, s. 41; 1982, c. 18, s. 120; 1985, c. 31, s. 23.

1982-07-11

286. When a by-law authorizes the Commission to borrow a certain amount either in the legal tender of Canada or in the currency of one or more foreign countries, the total amount of the loan thus authorized shall be that expressed in the legal tender of Canada.

The amount in Canadian dollars of a loan effected in another currency is obtained by multiplying the amount of the principal of the loan by the value of the unit of the other currency in relation to the Canadian dollar.

For the purposes of the computation contemplated in the second paragraph, the value of the unit of the other currency in relation to the Canadian dollar is as it stands

(1)  at the time of the conversion into Canadian dollars of all or part of the proceeds of the loan paid to the Commission; or

(2)  at noon on the day on which all or part of the proceeds of the loan is paid to the Commission, if it is not converted into Canadian dollars.

Where all or part of the proceeds of a loan are used to renew a loan already effected by the Commission, for all or part of its unexpired term, the amount used for such renewal is not deducted from the balance of the amount of the loan authorized by by-law, whatever the value of the currency in which the loan is effected.

1974, c. 82, s. 41; 1982, c. 18, s. 120.

0001-01-01

286. When a by-law authorizes the Commission to borrow a certain amount either in the legal tender of Canada or in the currency of one or more foreign countries, the total amount of the loan thus authorized shall be that expressed in the legal tender of Canada.

The amount of each loan effected pursuant to such by-law through an issue of securities in the legal tender of a foreign country is determined, in relation to the total amount authorized by the by-law, by multiplying the amount of the principal of the issue, expressed in the currency of such foreign country, by the market value in Canadian dollars of the unit of such country the day of delivery against payment of such securities.

1974, c. 82, s. 41.