20. No promissory note given by any municipality contemplated in a joint petition contemplated in section 3 or 4 or by any of the municipalities the Minister has ordered to make a joint study, in payment of an account or other debt exceeding one hundred dollars, shall bind the municipality unless its issue has been approved by the Commission. Moreover, any agreement made by any such municipality affecting its credit must, to bind such municipality, be approved by the Commission. Furthermore, no such municipality is exempted, as regards such matters, from the other formalities prescribed by the laws governing it.
However, the Commission may, upon the conditions it determines, fix for any municipality a maximum higher than that of one hundred dollars provided in the preceding paragraph.
This section shall have effect, in the case of section 3 or 4, from the publication provided for in section 6; in the case of section 10, it shall have effect from the order of the Minister enjoining the municipalities to make or cause to be made a joint study. The Commission shall give notice in the Gazette officielle du Québec of the tenor of this section and of the municipalities affected by its carrying out.
This section shall cease to apply from the issue of the letters patent amalgamating such municipalities or from any earlier date a notice of which is given by the Commission in the Gazette officielle du Québec.