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P-11 - Act respecting Place des Arts

Section 19
Disposition versions

Full text
19. With the consent of the Government and of the City, the Board may assume all the obligations of the Sir Georges Étienne Cartier Center in consideration of the transfer of its property and contracts.
Such transfer may be agreed to by resolution passed by the vote of three-fourths of the members of the board of directors of the Center present at a meeting called for such purpose.
The Government may, on such conditions as it deems expedient, undertake to defray the board’s deficits, including all operating and capital expenditures, interest on and amortization of all loans approved by the Government, in accordance with section 14.
The amounts which may be payable by Québec in consequence of such undertaking shall be paid out of the consolidated revenue fund.
The city of Montréal may guarantee all loans of the Board.
1964, c. 19, s. 19; 1965 (1st sess.), c. 20, s. 1; 1979, c. 72, s. 388.
19. With the consent of the Gouvernement and of the City, the Board may assume all the obligations of the Sir Georges Étienne Cartier Center in consideration of the transfer of its property and contracts.
Such transfer may be agreed to by resolution passed by the vote of three-fourths of the members of the board of directors of the Center present at a meeting called for such purpose.
The Gouvernement and the City may, upon such conditions as they deem expedient, undertake to defray in equal shares the Board’s deficits, including all operating and capital expenditures, interest and amortization of all loans approved by the Gouvernement, in accordance with section 14.
The amounts which may be payable by Québec in consequence of such undertaking shall be paid out of the consolidated revenue fund.
The city of Montréal may pay its share of the deficit by levying it upon the compensation which replaces the municipal sales tax before apportionment in the metropolitan territory described in article 917 of its charter.
The city of Montréal may guarantee all loans of the Board.
1964, c. 19, s. 19; 1965 (1st sess.), c. 20, s. 1.
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