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V-6.1 - Act respecting Northern villages and the Kativik Regional Government
Section 227.1
Disposition versions
227.1. The council may, by resolution, authorize the Regional Government to contract a loan on behalf and in the name of the municipality.
That authorization may be for a specific loan decided on by the council or it may entrust the Regional Government with the care of ordering from time to time and contracting any loan necessary to finance the municipality’s activities. In the second instance, the resolution remains valid until it is repealed.
The provisions respecting the loans contracted by the Regional Government apply in such a case.
227.1. The council may, by resolution, authorize the Regional Government to contract a loan on behalf and in the name of the corporation.
That authorization may be for a specific loan decided on by the council or it may entrust the Regional Government with the care of ordering from time to time and contracting any loan necessary to finance the corporation’s activities. In the second instance, the resolution remains valid until it is repealed.
The provisions respecting the loans contracted by the Regional Government apply in such a case.
