C-19 - Cities and Towns Act

Section 558 Disposition versions

1985-01-01

558. (Repealed).

R. S. 1964, c. 193, s. 596; 1968, c. 55, s. 146; 1979, c. 72, s. 318; 1984, c. 38, s. 36.

1979-12-21

558. (1)  Whenever the amount of the loans contracted by the municipality, including the proposed loan, is equal to twenty per cent of the value of the taxable immoveable property in the municipality according to the valuation roll in force, no new loan may be contracted, nor any debt subsequently incurred which would have the same effect on the revenues of the municipality as a loan, unless the by-law has been voted on by:

(a)  At least one-tenth of the total number of persons qualified to vote contemplated in the first paragraph of section 556, residing in the municipality, if such number in the municipality is two thousand or over;

(b)  At least one-eighth, if the number of such persons residing in the municipality is one thousand or over but less than two thousand;

(c)  At least one-fifth, if the number of such persons residing in the municipality is less than one thousand.

(2)  The by-law must, in addition, be approved by a two-thirds majority at least, in number and real value, of all such persons, whether resident or not in the municipality, who have voted.

(3)  Immoveables temporarily exempted from taxes shall be considered as taxable immoveables in establishing the figure equal to twenty per cent of the value of taxable immoveable property, under this section.

(4)  For the purposes of this section, the standardized assessment is used.

R. S. 1964, c. 193, s. 596; 1968, c. 55, s. 146; 1979, c. 72, s. 318.

1977-12-31

558. (1)  Whenever the amount of the loans contracted by the municipality, including the proposed loan, is equal to twenty per cent of the value of the taxable immoveable property in the municipality according to the valuation roll in force, no new loan may be contracted, nor any debt subsequently incurred which would have the same effect on the revenues of the municipality as a loan, unless the by-law has been voted on by:

(a)  At least one-tenth of the total number of persons qualified to vote contemplated in the first paragraph of section 556, residing in the municipality, if such number in the municipality is two thousand or over;

(b)  At least one-eighth, if the number of such persons residing in the municipality is one thousand or over but less than two thousand;

(c)  At least one-fifth, if the number of such persons residing in the municipality is less than one thousand.

(2)  The by-law must, in addition, be approved by a two-thirds majority at least, in number and real value, of all such persons, whether resident or not in the municipality, who have voted.

(3)  Immoveables temporarily exempted from taxes shall be considered as taxable immoveables in establishing the figure equal to twenty per cent of the value of taxable immoveable property, under this section.

R. S. 1964, c. 193, s. 596; 1968, c. 55, s. 146.