F-4 - Industrial Funds Act

Section 5 Disposition versions

1980-01-24

5. The municipal corporation, on such conditions as it may determine, may sell or lease for industrial purposes an immoveable owned by it provided that the cash selling price is not less than the cost of such immoveable, that the price of sale with a term is sufficient to cover the purchase price and interest and that the rent is sufficient to cover all the annual expenses respecting such immoveable for amortization and interest on the purchase price, insurance, maintenance and municipal and school taxes.

The municipal corporation may also sell for cash for commercial purposes, at a price not less than the cost, any land acquired under the provisions of section 3.

The sales or rentals contemplated by this section shall be subject to the authorization of the Minister of Municipal Affairs and the Minister of Industry, Commerce and Tourism.

R. S. 1964, c. 175, s. 4; 1979, c. 77, s. 27.

1977-12-31

5. The municipal corporation, on such conditions as it may determine, may sell or lease for industrial purposes an immoveable owned by it provided that the cash selling price is not less than the cost of such immoveable, that the price of sale with a term is sufficient to cover the purchase price and interest and that the rent is sufficient to cover all the annual expenses respecting such immoveable for amortization and interest on the purchase price, insurance, maintenance and municipal and school taxes.

The municipal corporation may also sell for cash for commercial purposes, at a price not less than the cost, any land acquired under the provisions of section 3.

The sales or rentals contemplated by this section shall be subject to the authorization of the Minister of Municipal Affairs and the Minister of Industry and Commerce.

R. S. 1964, c. 175, s. 4.