93. The corporation shall, not later than 30 September each year, adopt for the next three fiscal years the programme of its capital expenditures. Such programme shall be adopted by the by-law of the corporation of which it is a part. It must be approved by by-law by the council of each municipality whose territory is subject to its jurisdiction.
Such programme shall be divided into annual phases. It shall describe, in respect of the period coincident therewith, the object, the cost and the mode of financing of the capital expenditures that the corporation plans to incur for which the financing period exceeds twelve months.
Every by-law adopted under this section must be transmitted to the Minister of Municipal Affairs and to the Commission municipale du Québec during the month of November following its adoption. Upon sufficient proof that the corporation has been actually unable to have such programme approved by the municipal council of each municipality whose territory is subject to its jurisdiction or to transmit it within the prescribed delay, the Minister of Municipal Affairs may grant it any additional delay he may fix.
The Minister of Municipal Affairs may order that such programme be transmitted by means of the form furnished by him for that purpose. He may also require, through such form or in any other manner, that the corporation provide him with any information relating to such programme, even in the case where such information is not provided for in this section.
To come into force, the by-law contemplated in the first paragraph requires only the approval of the Government, with or without amendment.
No loan or pledge of credit intended to finance capital expenditures may be validly ordered if the loan or pledge of credit does not comply with the programme of capital expenditures in force. However, the loan or pledge of credit indorsed with the approvals required is deemed to have been ordered in conformity with that programme.
To the extent that they are consistent with this section, the provisions applicable to the procedure prior to the adoption of the budget of the corporation apply, mutatismutandis, to the procedure prior to the adoption of the programme of capital expenditures.