294.5. Where the subway network is extended in the territory of the Société de transport de la Ville de Laval or of the municipalities situated in the territory of the Société de transport de la rive sud de Montréal, the Société owns the tunnel, tracks and platforms. It shall transfer to the municipality all property, rights and titles it may have acquired as a result of the failure by the municipality or municipal transit authority to accept the offer made in accordance with section 294.2, with the exception of the legal servitudes referred to in section 294.1 and other servitudes and rights acquired to ensure the safety and sanitation of the tunnel.
The financial commitments deriving from the securities issued by the Community and the contracts made by the Société for the purpose of constructing and laying out the subway tunnel, tracks and platforms in the territory of the Société de transport de la Ville de Laval or in the territory of the municipalities in the territory of the Société de transport de la rive sud de Montréal, constitute direct and general obligations of the Community. The Community is solely liable for the obligations contracted towards the holders of the securities issued by it or towards the persons holding claims under the contracts.
All contracts made by the Société, except those mentioned in the second paragraph, and all contracts made by a municipality or a municipal transit authority under section 294.2 for the purpose of constructing or laying out underground or surface infrastructures relating to the subway network, constitute direct and general obligations of the municipality or the municipal transit authority in whose territory the extension has been made. The municipality or transit authority is solely liable for the obligations contracted towards the holders of the securities issued by it or towards the persons holding claims under the contracts.
1990, c. 41, s. 92; 1999, c. 40, s. 68.