306.3. The corporation shall prescribe, by a by-law approved by the Council, the manner of determining the aliquot shares of its deficit and the terms and conditions of payment of the aliquot shares by the municipalities situated within the territory of the corporation.
The by-law may, in particular, determine for every situation provided for in section 210 or 212,
(1) the date on which the data used to establish provisionally or finally the fiscal potential are to be considered;
(2) the time limit for determining each aliquot share and for informing each municipality of it;
(3) the obligation of a municipality to pay the aliquot share in a single payment or its right to pay it in a certain number of instalments;
(4) the time limit within which each instalment must be paid;
(5) the rate of interest payable on an outstanding instalment;
(6) the adjustments that may result from the deferred coming into force of all or part of the budget of the corporation or from the successive use of provisional and final data in determining the fiscal potential.
Instead of fixing the rate of interest payable on an instalment which is outstanding, the by-law may provide that such rate shall be fixed by a resolution of the corporation when its budget is transmitted to the Community.
The by-law may prescribe the terms and conditions of the repayment by the Community to the corporation of the amount payable by the municipalities as though it were an aliquot share and take into account the repayment provided for in section 306.1. However, the corporation may in no case be forced to return to the Community or to the municipalities an overpayment noticed following an adjustment provided for in subparagraph 6 of the second paragraph of this section. Moreover, where such an adjustment reveals that the Community must pay a supplement to the corporation, the Community may use any surplus referred to in section 217 to make this payment in addition to or instead of adjusting the aliquot shares of the municipalities.
1985, c. 31, s. 25; 1991, c. 32, s. 194.