128. A loan by-law need not be submitted for approval to the qualified voters and is not subject to the amendment procedure prescribed in section 565 of the Cities and Towns Act (chapter C-19).
The Minister may, however, where repayment of 75% or more of a loan is to be borne by the owners of immovables in only a part of the territory of the city, require the loan by-law to be submitted for approval to the qualified voters in that part of the territory in the manner prescribed in sections 561.1 to 561.3 of the Cities and Towns Act.
2000, c. 56, Sch. II, s. 128; 2001, c. 25, s. 336; 2002, c. 77, s. 25; 2016, c. 31, s. 131.