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I-13.3 - Education Act

Section 476
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476. The Minister may, on the terms and conditions he determines, grant on behalf of the Government a subsidy to any school service centre or the Comité de gestion de la taxe scolaire de l’île de Montréal for the payment, in whole or in part, out of the funds voted annually for such purpose by the Parliament, of the principal and interest of any loan contracted or to be contracted by the school service centre or the Comité de gestion de la taxe scolaire de l’île de Montréal.
The school service centre shall apply the proceeds of the loan referred to in the first paragraph to the capital expenditures and debt service for the capital expenditures referred to in section 472, to the repayment of loans contracted for the purposes of such capital expenditures and debt service or to the payment of the costs and expenses related to the loan.
The Minister may entrust to the Minister of Finance the management of any amount intended for the payment in principal of a loan contracted by the school service centre 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 loan and, out of the proceeds or revenues of the fund, the loans contracted by any school service centre.
The third paragraph applies only to loans contracted before 1 April 1991.
1988, c. 84, s. 476; 1990, c. 66, s. 8; 2002, c. 75, s. 31; 2016, c. 7, s. 183; 2020, c. 1, s. 312.
476. The Minister may, on the terms and conditions he determines, grant on behalf of the Government a subsidy to any school board or the Comité de gestion de la taxe scolaire de l’île de Montréal for the payment, in whole or in part, out of the funds voted annually for such purpose by the Parliament, of the principal and interest of any loan contracted or to be contracted by the school board or the Comité de gestion de la taxe scolaire de l’île de Montréal.
The school board shall apply the proceeds of the loan referred to in the first paragraph to the capital expenditures and debt service for the capital expenditures referred to in section 472, to the repayment of loans contracted for the purposes of such capital expenditures and debt service or to the payment of the costs and expenses related to the loan.
The Minister may entrust to the Minister of Finance the management of any amount intended for the payment in principal of a loan contracted 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 loan and, out of the proceeds or revenues of the fund, the loans contracted by any school board.
The third paragraph applies only to loans contracted before 1 April 1991.
1988, c. 84, s. 476; 1990, c. 66, s. 8; 2002, c. 75, s. 31; 2016, c. 7, s. 183.
476. The Minister may, on the terms and conditions he determines, grant on behalf of the Government a subsidy to any school board or the Comité de gestion de la taxe scolaire de l’île de Montréal for the payment, in whole or in part, out of the funds voted annually for such purpose by the Parliament, of the principal and interest of any loan contracted or to be contracted by the school board or the Comité de gestion de la taxe scolaire de l’île de Montréal.
The school board shall apply the proceeds of the loan referred to in the first paragraph to the capital expenditures and debt service for the capital expenditures referred to in section 472, to the repayment of loans contracted for the purposes of such capital expenditures and debt service or to the payment of the costs and expenses related to the loan.
The Minister may entrust to the Minister of Finance, to be managed by him, any amount intended for the payment in principal of a loan contracted 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 loan and, out of the proceeds or revenues of the fund, the loans contracted by any school board.
The third paragraph applies only to loans contracted before 1 April 1991.
1988, c. 84, s. 476; 1990, c. 66, s. 8; 2002, c. 75, s. 31.
476. The Minister may, on the terms and conditions he determines, grant on behalf of the Government a subsidy to any school board or the Conseil scolaire de l’île de Montréal for the payment, in whole or in part, out of the funds voted annually for such purpose by the Parliament, of the principal and interest of any loan contracted or to be contracted by the school board or the Conseil scolaire de l’île de Montréal.
The school board shall apply the proceeds of the loan referred to in the first paragraph to the capital expenditures and debt service for the capital expenditures referred to in section 472, to the repayment of loans contracted for the purposes of such capital expenditures and debt service or to the payment of the costs and expenses related to the loan.
The Minister may entrust to the Minister of Finance, to be managed by him, any amount intended for the payment in principal of a loan contracted 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 loan and, out of the proceeds or revenues of the fund, the loans contracted by any school board.
The third paragraph applies only to loans contracted before 1 April 1991.
1988, c. 84, s. 476; 1990, c. 66, s. 8.
476. The Minister may, on the terms and conditions he determines, grant on behalf of the Government a subsidy to any school board or the Conseil scolaire de l’île de Montréal for the payment, in whole or in part, out of the funds voted annually for such purpose by the Parliament, of the principal and interest of any loan contracted or to be contracted by the school board or the Conseil scolaire de l’île de Montréal.
The school board shall apply the proceeds of the loan referred to in the first paragraph to the capital expenditures and debt service for the capital expenditures referred to in section 472, to the repayment of loans contracted for the purposes of such capital expenditures and debt service or to the payment of the costs and expenses related to the loan.
The Minister may entrust to the Minister of Finance, to be managed by him, any amount intended for the payment in principal of a loan contracted 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 loan and, out of the proceeds or revenues of the fund, the loans contracted by any school board.
1988, c. 84, s. 476.
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