1. The Minister of Municipal Affairs shall pay, during each fiscal year, to every municipality with a population of 5,000 or more inhabitants a subsidy computed at the following rates:(a) $6.40 per inhabitant for the portion of the population not exceeding 20,000 inhabitants;
(b) $8.55 per inhabitant for the portion of the population exceeding 20,000 but not exceeding 25,000 inhabitants;
(c) $10.70 per inhabitant for the portion of population exceeding 25,000 but not exceeding 35,000 inhabitants;
(d) $13.90 per inhabitant for the portion of the population exceeding 35,000 but not exceeding 50,000 inhabitants;
(e) $17.10 per inhabitant for the portion of the population exceeding 50,000 but not exceeding 100,000 inhabitants;
(f) $20.30 per inhabitant for the portion of the population exceeding 100,000 but not exceeding 150,000 inhabitants;
(g) $23.50 per inhabitant for the portion of the population exceeding 150,000.