228. Sections 7 and 8 and Divisions V, VI, VIII to X and XII of the Act respecting municipal debts and loans (chapter D-7) apply to the Community. The treasurer or any other officer designated for that purpose by the executive committee shall fulfil the obligation mentioned in sections 24 and 32 of the said Act.
The Minister may cause the seal and the certificate contemplated in section 12 of the said Act to be affixed to a security issued by the Community under a by-law in force. The validity of a security bearing such seal and certificate is not contestable.
Division IX of the said Act does not apply to a security that is not subject to registration pursuant to the conditions of its issue.
A loan obtained by the Community or a security issued by it may be repaid or redeemed in advance, of its own accord, according to the terms of the contract or security. The date of advance repayment or redemption may be other than a date of payment of interest if the prior notice stipulated in the contract or security is given.
1969, c. 84, s. 262; 1971, c. 90, s. 24; 1972, c. 73, s. 11; 1977, c. 5, s. 14; 1982, c. 18, s. 97; 1984, c. 38, s. 112; 1988, c. 84, s. 705.