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C-37.2 - Act respecting the Communauté urbaine de Montréal

Section 306.16
Disposition versions

Full text
306.16. Where a loan is ordered by by-law and approved, the secretary of the Société shall advise the executive committee of the conditions that may be expected when the loan is made.
The Société may effect the loan by issuing securities or by contract, up to the total amount of principal indicated in the by-law.
The Société shall determine by resolution
(1)  the interest rate on the loan or securities or the manner of fixing that rate;
(2)  the time the loan is effected;
(3)  the content of the securities or of the contracts;
(4)  the conditions of issue of the securities.
Any resolution of the Société adopted under the third paragraph requires the approval of the Minister of Municipal Affairs and Greater Montréal.
1985, c. 31, s. 25; 1999, c. 40, s. 68; 1999, c. 43, s. 13.
306.16. Where a loan is ordered by by-law and approved, the secretary of the Société shall advise the executive committee of the conditions that may be expected when the loan is made.
The Société may effect the loan by issuing securities or by contract, up to the total amount of principal indicated in the by-law.
The Société shall determine by resolution
(1)  the interest rate on the loan or securities or the manner of fixing that rate;
(2)  the time the loan is effected;
(3)  the content of the securities or of the contracts;
(4)  the conditions of issue of the securities.
Any resolution of the Société adopted under the third paragraph requires the approval of the Minister of Municipal Affairs.
1985, c. 31, s. 25; 1999, c. 40, s. 68.
306.16. Where a loan is ordered by by-law and approved, the secretary of the corporation shall advise the executive committee of the conditions that may be expected when the loan is made.
The corporation may effect the loan by issuing securities or by contract, up to the total amount of principal indicated in the by-law.
The corporation shall determine by resolution
(1)  the interest rate on the loan or securities or the manner of fixing that rate;
(2)  the time the loan is effected;
(3)  the content of the securities or of the contracts;
(4)  the conditions of issue of the securities.
Any resolution of the corporation adopted under the third paragraph requires the approval of the Minister of Municipal Affairs.
1985, c. 31, s. 25.
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