S-30.01 - Act respecting public transit authorities

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158.2. Within the scope of its powers under paragraph 2 of section 19 of the Act respecting the exercise of certain municipal powers in certain urban agglomerations (chapter E-20.001), Ville de Montréal has exclusive jurisdiction to contract, in its own name, a loan ordered by the board of directors of the Société de transport de Montréal under the first paragraph of section 123.
The loan is made by the executive committee of the city in accordance with section 121.1 of Schedule C to the Charter of Ville de Montréal, metropolis of Québec (chapter C-11.4).
However, the first paragraph does not apply in respect of any part of a loan ordered for the purposes of an investment, where the transit authority provides for the repayment of that part of the loan out of its revenues derived directly from legal persons, other bodies, special funds within the meaning of section 5.1 of the Financial Administration Act (chapter A-6.001) or any other organization whose results are included in the budget balance defined in section 2 of the Balanced Budget Act (chapter E-12.00001).
2010, c. 42, s. 35; 2013, c. 16, s. 211.
158.2. Within the scope of its powers under paragraph 2 of section 19 of the Act respecting the exercise of certain municipal powers in certain urban agglomerations (chapter E-20.001), Ville de Montréal has exclusive jurisdiction to contract, in its own name, a loan ordered by the board of directors of the Société de transport de Montréal under the first paragraph of section 123.
The loan is made by the executive committee of the city in accordance with section 121.1 of Schedule C to the Charter of Ville de Montréal (chapter C-11.4).
However, the first paragraph does not apply in respect of any part of a loan ordered for the purposes of an investment, where the transit authority provides for the repayment of that part of the loan out of its revenues derived directly from legal persons, other bodies, special funds within the meaning of section 5.1 of the Financial Administration Act (chapter A-6.001) or any other organization whose results are included in the budget balance defined in section 2 of the Balanced Budget Act (chapter E-12.00001).
2010, c. 42, s. 35; 2013, c. 16, s. 211.
158.2. Within the scope of its powers under paragraph 2 of section 19 of the Act respecting the exercise of certain municipal powers in certain urban agglomerations (chapter E-20.001), Ville de Montréal has exclusive jurisdiction to contract, in its own name, a loan ordered by the board of directors of the Société de transport de Montréal under the first paragraph of section 123.
The loan is made by the executive committee of the city in accordance with section 121.1 of Schedule C to the Charter of Ville de Montréal (chapter C-11.4).
However, a loan ordered for the purposes of an investment that is the object of a government subsidy is made with the Minister of Finance by the transit authority itself for the subsidized party; the Minister takes the sums loaned out of the Financing Fund established under the Act respecting the Ministère des Finances (chapter M-24.01).
2010, c. 42, s. 35.