C-37.01 - Act respecting the Communauté métropolitaine de Montréal

Section 206 Disposition versions

2001-01-01

206. The bonds, notes and other securities of the Community shall be signed by the chair or vice-chair and by the treasurer or, if the treasurer is absent or unable to act, by the person designated for such purpose by the council.

The facsimile of the signature of the chair and the treasurer on the bonds may be engraved, lithographed or printed and shall have the same effect as if the signature itself had been affixed thereto.

The certificate of the Minister or of the authorized person, mentioned in section 12 of the Act respecting municipal debts and loans (chapter D‐7), may be affixed to the bonds issued by the Community under the facsimile of the signature of the Minister or of the authorized person. However, the presumption of validity provided for in that section applies only if the bonds also bear the handwritten signature of the chair, the treasurer or a financial officer who is a mandatary of the Community.

Although a person whose signature or a facsimile thereof has been affixed to a bond, a note, another security of the Community or a coupon in that person’s capacity as chair, vice-chair or treasurer of the Community or person designated for such purpose by the council, has ceased to act in such capacity before the bond, note, security or coupon is issued and delivered, the signature shall nevertheless be valid and shall bind the Community in the same manner as if such person had continued to act in such capacity on the date of the issue and delivery and the signature or facsimile of the signature of the persons acting in such capacity on the date on which the signature or facsimile was affixed to a bond, note, coupon or other security of the Community shall bind the Community even though the person was not acting in such capacity on the date of such bond, coupon, note or security.

2000, c. 34, s. 206.