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E-8.1 - Act respecting public elementary and secondary education
Section 329
Disposition versions
329. The Minister may, on the terms and conditions he determines, grant on behalf of the Government a subsidy to any school board for the payment, in whole or in part, out of the funds voted annually by the National Assembly, of the principal and interest of any loan contracted or to be contracted by the school board.
The Minister may entrust to the Minister of Finance, to be managed by him, any amount intended for the payment in principal of bonds issued by the school board to establish a sinking-fund for the purposes of paying, out of those amounts and on the maturity dates provided for the loan, the principal of the bonds and, out of the proceeds or revenues of the fund, the loans contracted by any school board.
