A-7.02 - Act respecting the Agence métropolitaine de transport

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37. The Agency shall acquire the equipment and facilities it has identified as being necessary for the operation of its metropolitan bus transit system.
The contract shall specify the date and the terms and conditions governing the transfer of the property. Only the amount disbursed by the owner, exclusive of any government subsidy granted to finance the cost of acquisition, may be reimbursed, compensated or otherwise borne by the Agency.
Notwithstanding the second paragraph, the owner shall continue to service any debt relating to the property transferred to the Agency. The owner shall remain responsible for the commitments arising out of the securities it has issued and such securities shall continue to constitute direct and general obligations of the owner. The Agency shall reimburse the owner, in principal and interest, according to the due dates of debt service payments of the owner.
1995, c. 65, s. 37.