100. Notwithstanding section 119, for ten years from the municipal or school fiscal year beginning in 1972:(a) in the City of Montréal, Hydro-Québec and its subsidiaries and their immoveables are exempt from any levy disallowed by the second paragraph of section 40 of the Hydro-Québec Act;
(b) elsewhere than in Montréal they are exempt from any levy disallowed by the second paragraph of section 40 of the Hydro-Québec Act, with the exception of the taxes imposed for the waterworks service.