506. Notwithstanding section 423, the Council shall borrow no money for the purposes of a confessional or dissentient school board on the island of Montréal, unless it borrows money pursuant to an agreement with the school board.
Section 424, the first paragraph of section 425 and section 428 shall apply to a confessional or dissentient school board only to the extent that the bonds or other evidences of indebtedness or securities were issued by the Council pursuant to an agreement contemplated in the first paragraph.