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I-14 - The Education Act for Cree, Inuit and Naskapi Native Persons

Section 545
Disposition versions

Full text
545. The school board may:
(a)  assume the hypothecs affecting the immovables it acquires;
(b)  with the authorization of the Minister and according to such modalities, terms and conditions as he may determine, contract loans by bill of exchange, note or other negotiable instrument for a period not to exceed one year, to finance its operations pending payment by the Council; in such a case, it shall, at the request of the Minister, provide him, either directly or through the intermediary of the financial institutions with which it does business, with any information concerning its financial situation.
(c)  lease immovables;
(d)  invest its money in any manner considered suitable, either in its own name or in that of trustees;
(e)  make any agreement with the Council for school purposes.
Nevertheless, the board shall not exercise the powers mentioned in subparagraphs a and c without the authorization of the Council. In the case contemplated in subparagraph c, the Council must obtain the approval of the Minister if the term of the lease exceeds three years or if the annual rent exceeds $100,000.
It shall not acquire, alienate, build, enlarge, alter or demolish an immovable without the authorization of the Council, which must obtain the approval of the Minister if the cost of the operation exceeds $100,000.
For the purposes of the preceding paragraph, the Minister may grant a general authorization on such terms and conditions as he may determine. The Council may in the same manner grant a general authorization to any school board.
The power provided in section 237 shall be exercised by a school board only after approval by the Council.
1972, c. 60, s. 4; 1976, c. 39, s. 4; 1979, c. 80, s. 50; 1981, c. 27, s. 18; 1999, c. 40, s. 159.
545. The school board may:
(a)  assume the hypothecs affecting the immoveables it acquires;
(b)  with the authorization of the Minister and according to such modalities, terms and conditions as he may determine, contract loans by bill of exchange, note or other negotiable instrument for a period not to exceed one year, to finance its operations pending payment by the Council; in such a case, it shall, at the request of the Minister, provide him, either directly or through the intermediary of the financial institutions with which it does business, with any information concerning its financial situation.
(c)  lease immoveables, either as lessor or lessee;
(d)  invest its money in any manner considered suitable, either in its own name or in that of trustees;
(e)  make any agreement with the Council for school purposes.
Nevertheless, the board shall not exercise the powers mentioned in subparagraphs a and c without the authorization of the Council. In the case contemplated in subparagraph c, the Council must obtain the approval of the Minister if the term of the lease exceeds three years or if the annual rent exceeds $100 000.
It shall not acquire, alienate, build, enlarge, alter or demolish an immoveable without the authorization of the Council, which must obtain the approval of the Minister if the cost of the operation exceeds $100 000.
For the purposes of the preceding paragraph, the Minister may grant a general authorization on such terms and conditions as he may determine. The Council may in the same manner grant a general authorization to any school board.
The power provided in section 237 shall be exercised by a school board only after approval by the Council.
1972, c. 60, s. 4; 1976, c. 39, s. 4; 1979, c. 80, s. 50; 1981, c. 27, s. 18.
545. The school board may:
(a)  assume the hypothecs affecting the immoveables it acquires;
(b)  contract loans by bill of exchange, note or other negotiable instrument for a period not to exceed one year, to finance its operations pending payment by the Council;
(c)  lease immoveables, either as lessor or lessee;
(d)  invest its money in any manner considered suitable, either in its own name or in that of trustees;
(e)  make any agreement with the Council for school purposes.
Nevertheless the board shall not exercise the powers mentioned in subparagraphs a, b and c without the authorization of the Council. In the case contemplated in subparagraph c, the Council must obtain the approval of the Minister if the term of the lease exceeds three years or the annual rental exceeds $100,000.
It shall not acquire, alienate, build, enlarge, alter or demolish an immoveable without the authorization of the Council, which must obtain the approval of the Minister if the cost of the operation exceeds $100,000.
For the purposes of the preceding paragraph, the Minister may grant a general authorization on such terms and conditions as he may determine. The Council may in the same manner grant a general authorization to any school board.
The power provided in section 237 shall be exercised by a school board only after approval by the Council.
1972, c. 60, s. 4; 1976, c. 39, s. 4; 1979, c. 80, s. 50.
545. The school board may:
(a)  assume the hypothecs affecting the immoveables it acquires;
(b)  contract loans by bill of exchange, note or other negotiable instrument for a period not to exceed one year, to finance its operations pending payment by the Council;
(c)  lease immoveables;
(d)  invest its money in any manner considered suitable, either in its own name or in that of trustees;
(e)  make any agreement with the Council for school purposes.
Nevertheless the board shall not exercise the powers mentioned in subparagraphs a, b and c without the authorization of the Council. In the case contemplated in subparagraph c, the Council must obtain the approval of the Minister if the term of the lease exceeds three years or the annual rental exceeds $100,000.
It shall not acquire, alienate, build, enlarge, alter or demolish an immoveable without the authorization of the Council, which must obtain the approval of the Minister if the cost of the operation exceeds $100,000.
For the purposes of the preceding paragraph, the Minister may grant a general authorization on such terms and conditions as he may determine. The Council may in the same manner grant a general authorization to any school board.
The power provided in section 237 shall be exercised by a school board only after approval by the Council.
1972, c. 60, s. 4; 1976, c. 39, s. 4.
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