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D-7 - Act respecting municipal debts and loans

Section 17
Disposition versions

Full text
17. It is, and always has been, lawful for any municipality to stipulate, in a procedure it is authorized to adopt for the effecting of a loan, that the bonds or debentures issued shall be redeemable, before their respective dates of maturity, at the times and upon the conditions determined in such procedure and at a price not lower than their face value. The right of redemption must be mentioned on the bonds or debentures, otherwise it cannot be exercised against the will of the holders.
R. S. 1964, c. 171, s. 17; 1988, c. 84, s. 583; 1996, c. 2, s. 635.
17. It is, and always has been, lawful for any municipal corporation to stipulate, in a procedure it is authorized to adopt for the effecting of a loan, that the bonds or debentures issued shall be redeemable, before their respective dates of maturity, at the times and upon the conditions determined in such procedure and at a price not lower than their face value. The right of redemption must be mentioned on the bonds or debentures, otherwise it cannot be exercised against the will of the holders.
R. S. 1964, c. 171, s. 17; 1988, c. 84, s. 583.
17. It is, and always has been, lawful for any municipal or school corporation to stipulate, in a procedure it is authorized to adopt for the effecting of a loan, that the bonds or debentures issued shall be redeemable, before their respective dates of maturity, at the times and upon the conditions determined in such procedure and at a price not lower than their face value. The right of redemption must be mentioned on the bonds or debentures, otherwise it cannot be exercised against the will of the holders.
R. S. 1964, c. 171, s. 17.
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