389. The school corporation shall enter, in its own name, the immoveables so purchased, upon the valuation and collection rolls and upon the special apportionment rolls; such immoveables shall remain subject to municipal and school taxes like any other immoveables and shall be so assessed. The municipal taxes so imposed, however, shall not be collectable from the school corporation.
If the right to redemption be exercised, the redemption price must include, in addition to the amount paid by the school corporation for such immoveable and interest thereon at ten per cent, the amount of the general or special municipal and school taxes imposed on such immoveable from the date of the adjudication to the date of the redemption, or the instalments due upon such taxes if they are payable by instalments, and also the sums of money owing for municipal and school taxes which have not been paid in the distribution of the moneys levied by the sale.
After redemption, the unexpired instalments of special taxes shall continue to affect the immoveable redeemed and the owner shall be liable therefor.
If the redemption is not exercised within the period fixed by law, the secretary-treasurer, sheriff, prothonotary or trustee, as the case may be, shall draw up and sign a deed of sale in favour of the school corporation and have the same registered.
R. S. 1964, c. 235, s. 421.