477. The council may adopt by-laws relating to the administration of municipal finances.
However, to ensure the sound administration of those finances, it must adopt a budget control and monitoring by-law that provides in particular for a means to guarantee the availability of funds before any decision authorizing an expenditure is made; the means may vary depending on the authority authorizing the expenditures or on the type of expenditures proposed.
R. S. 1964, c. 193, s. 481; 2006, c. 31, s. 22.