6.1. A local municipality may become surety for a non-profit body or grant a non-profit body a subsidy in order to assist in the operation of an industrial rental building. It may also, with the authorization of the Minister of Municipal Affairs, Regions and Land Occupancy, become surety for such a body or grant such a body a subsidy in order to assist in the construction of an industrial rental building or the conversion of a building into an industrial rental building.
The amount for which the municipality becomes surety shall be considered, from the adoption of the resolution whereby it becomes surety, to be an expenditure incurred by the municipality and financed otherwise than under a loan by-law.
Section 4, adapted as required, applies to provide for expenditures incurred as a result of a resolution adopted under the first paragraph.
1989, c. 60, s. 5; 1994, c. 16, s. 51; 1994, c. 34, s. 7; 1999, c. 59, s. 37; 2003, c. 19, s. 250; 2005, c. 28, s. 196; 2009, c. 26, s. 109.