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C-19 - Cities and Towns Act

Section 544.1
Disposition versions

Full text
544.1. Part of the loan, not exceeding 5% of the amount of the expenditure authorized by the loan by-law in force, may be reserved for the repayment to the general fund of the municipality of all or part of the sums expended, before the coming into force of the loan by-law, in connection with the object of the by-law.
Where approval of the loan by-law by persons qualified to vote is not required, the percentage set in the first paragraph is replaced by 10%.
1995, c. 34, s. 20; 2003, c. 19, s. 129.
544.1. Part of the loan, not exceeding 5 % of the amount of the expenditure authorized by the loan by-law in force, may be reserved for the repayment to the general fund of the municipality of all or part of the sums expended, before the passage of the loan by-law, in connection with the object of the by-law.
That part of the loan must be specified in the by-law.
1995, c. 34, s. 20.
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