159. With the authorization of the Commission municipale du Québec, the Community may contract loans by notes, bonds or other securities, at the rate of interest and on the other conditions approved by the Commission municipale du Québec. The term of such loans shall in no case exceed fifty years.
Every loan that, under the law, must be ordered by by-law, also requires the authorization of the Minister.
1969, c. 83, s. 201; 1977, c. 80, s. 4; 1977, c. 5, s. 14.