C-19 - Cities and Towns Act

Full text
99. Subject to all other legal provisions, the treasurer shall deposit, in any bank or any deposit institution authorized under the Deposit Institutions and Deposit Protection Act (chapter I-13.2.2) which may be designated by the council, the moneys arising from municipal taxes or dues, and all other moneys belonging to the municipality, and shall allow them to remain there until they are employed for the purposes for which they were levied, or until disposed of by the council.
He may also, with the prior authorization of the council, invest such moneys in any bank or any deposit institution authorized under the Deposit Institutions and Deposit Protection Act which may be designated by the council, or purchase securities issued or guaranteed by the Government of Canada, the Gouvernement du Québec or the government of another Canadian province or securities issued or guaranteed by a municipality or by a mandatary body of a municipality or a supramunicipal body within the meaning of sections 18 and 19 of the Act respecting the Pension Plan of Elected Municipal Officers (chapter R-9.3).
The council may invest the moneys mentioned in the first paragraph in the purchase of securities in a mutual fund which is managed by a financial institution, and all the securities of which are held by municipalities, by bodies referred to in section 18 of the Act respecting the Pension Plan of Elected Municipal Officers, by school service centres, by school boards or by two or more of such entities. The investments made by such a fund must be limited to those set out in the second paragraph.
The Minister may, by regulation, determine other securities in which the council may invest, through the agency of the mutual fund referred to in the third paragraph, the moneys mentioned in the first paragraph, or determine the forms of investment in which the council may invest the moneys through the agency of such a fund.
R. S. 1964, c. 193, s. 95; 1968, c. 55, s. 31; 1979, c. 36, s. 62; 1992, c. 27, s. 2; 1994, c. 33, s. 7; 1996, c. 77, s. 12; 1997, c. 41, s. 65; 1997, c. 93, s. 49; 2000, c. 29, s. 626; 2006, c. 50, s. 122; 2009, c. 26, s. 18; 2018, c. 232018, c. 23, s. 731; 2020, c. 12020, c. 1, s. 309.
99. Subject to all other legal provisions, the treasurer shall deposit, in any bank or any deposit institution authorized under the Deposit Institutions and Deposit Protection Act (chapter I-13.2.2) which may be designated by the council, the moneys arising from municipal taxes or dues, and all other moneys belonging to the municipality, and shall allow them to remain there until they are employed for the purposes for which they were levied, or until disposed of by the council.
He may also, with the prior authorization of the council, invest such moneys in any bank or any deposit institution authorized under the Deposit Institutions and Deposit Protection Act which may be designated by the council, or purchase securities issued or guaranteed by the Government of Canada, the Gouvernement du Québec or the government of another Canadian province or securities issued or guaranteed by a municipality or by a mandatary body of a municipality or a supramunicipal body within the meaning of sections 18 and 19 of the Act respecting the Pension Plan of Elected Municipal Officers (chapter R-9.3).
The council may invest the moneys mentioned in the first paragraph in the purchase of securities in a mutual fund which is managed by a financial institution, and all the securities of which are held by municipalities, by bodies referred to in section 18 of the Act respecting the Pension Plan of Elected Municipal Officers, by school boards or by two or more of such entities. The investments made by such a fund must be limited to those set out in the second paragraph.
The Minister may, by regulation, determine other securities in which the council may invest, through the agency of the mutual fund referred to in the third paragraph, the moneys mentioned in the first paragraph, or determine the forms of investment in which the council may invest the moneys through the agency of such a fund.
R. S. 1964, c. 193, s. 95; 1968, c. 55, s. 31; 1979, c. 36, s. 62; 1992, c. 27, s. 2; 1994, c. 33, s. 7; 1996, c. 77, s. 12; 1997, c. 41, s. 65; 1997, c. 93, s. 49; 2000, c. 29, s. 626; 2006, c. 50, s. 122; 2009, c. 26, s. 18; 2018, c. 232018, c. 23, s. 731.
99. Subject to all other legal provisions, the treasurer shall deposit, in any legally constituted bank, financial services cooperative or trust company which may be designated by the council, the moneys arising from municipal taxes or dues, and all other moneys belonging to the municipality, and shall allow them to remain there until they are employed for the purposes for which they were levied, or until disposed of by the council.
He may also, with the prior authorization of the council, invest such moneys in any legally constituted bank, financial services cooperative or trust company which may be designated by the council, or purchase securities issued or guaranteed by the Government of Canada, the Gouvernement du Québec or the government of another Canadian province or securities issued or guaranteed by a municipality or by a mandatary body of a municipality or a supramunicipal body within the meaning of sections 18 and 19 of the Act respecting the Pension Plan of Elected Municipal Officers (chapter R-9.3).
The council may invest the moneys mentioned in the first paragraph in the purchase of securities in a mutual fund which is managed by a financial institution, and all the securities of which are held by municipalities, by bodies referred to in section 18 of the Act respecting the Pension Plan of Elected Municipal Officers, by school boards or by two or more of such entities. The investments made by such a fund must be limited to those set out in the second paragraph.
The Minister may, by regulation, determine other securities in which the council may invest, through the agency of the mutual fund referred to in the third paragraph, the moneys mentioned in the first paragraph, or determine the forms of investment in which the council may invest the moneys through the agency of such a fund.
R. S. 1964, c. 193, s. 95; 1968, c. 55, s. 31; 1979, c. 36, s. 62; 1992, c. 27, s. 2; 1994, c. 33, s. 7; 1996, c. 77, s. 12; 1997, c. 41, s. 65; 1997, c. 93, s. 49; 2000, c. 29, s. 626; 2006, c. 50, s. 122; 2009, c. 26, s. 18.
99. Subject to all other legal provisions, the treasurer shall deposit, in any legally constituted bank, financial services cooperative or trust company which may be designated by the council, the moneys arising from municipal taxes or dues, and all other moneys belonging to the municipality, and shall allow them to remain there until they are employed for the purposes for which they were levied, or until disposed of by the council.
He may also, with the prior authorization of the council, invest such moneys for short terms in any legally constituted bank, financial services cooperative or trust company which may be designated by the council, or purchase securities issued or guaranteed by the Government of Canada, the Gouvernement du Québec or the government of another Canadian province or securities issued or guaranteed by a municipality or by a mandatary body of a municipality or a supramunicipal body within the meaning of sections 18 and 19 of the Act respecting the Pension Plan of Elected Municipal Officers (chapter R-9.3).
The council may invest the moneys mentioned in the first paragraph in the purchase of securities in a mutual fund which is managed by a financial institution, and all the securities of which are held by municipalities, by bodies referred to in section 18 of the Act respecting the Pension Plan of Elected Municipal Officers, by school boards or by two or more of such entities. The investments made by such a fund must be limited to those set out in the second paragraph.
The Minister may, by regulation, determine other securities in which the council may invest, through the agency of the mutual fund referred to in the third paragraph, the moneys mentioned in the first paragraph, or determine the forms of investment in which the council may invest the moneys through the agency of such a fund.
R. S. 1964, c. 193, s. 95; 1968, c. 55, s. 31; 1979, c. 36, s. 62; 1992, c. 27, s. 2; 1994, c. 33, s. 7; 1996, c. 77, s. 12; 1997, c. 41, s. 65; 1997, c. 93, s. 49; 2000, c. 29, s. 626; 2006, c. 50, s. 122.
99. Subject to all other legal provisions, the treasurer shall deposit, in any legally constituted bank, financial services cooperative or trust company which may be designated by the council, the moneys arising from municipal taxes or dues, and all other moneys belonging to the municipality, and shall allow them to remain there until they are employed for the purposes for which they were levied, or until disposed of by the council.
He may also, with the prior authorization of the council, invest such moneys for short terms in any legally constituted bank, financial services cooperative or trust company which may be designated by the council, or purchase securities issued or guaranteed by the Government of Canada, the Gouvernement du Québec or the government of another Canadian province or securities issued or guaranteed by a municipality or by a mandatary body of a municipality or a supramunicipal body within the meaning of sections 18 and 19 of the Act respecting the Pension Plan of Elected Municipal Officers (chapter R-9.3).
The council may invest the moneys mentioned in the first paragraph in the purchase of shares in an unincorporated mutual fund which is managed by a financial institution, and all the shares of which are held by municipalities, by bodies referred to in section 18 of the Act respecting the Pension Plan of Elected Municipal Officers, by school boards or by two or more of such entities. The investments made by such a fund must be limited to those set out in the second paragraph.
The Minister may, by regulation, determine other securities in which the council may invest, through the agency of the unincorporated mutual fund referred to in the third paragraph, the moneys mentioned in the first paragraph, or determine the forms of investment in which the council may invest the moneys through the agency of such a fund.
R. S. 1964, c. 193, s. 95; 1968, c. 55, s. 31; 1979, c. 36, s. 62; 1992, c. 27, s. 2; 1994, c. 33, s. 7; 1996, c. 77, s. 12; 1997, c. 41, s. 65; 1997, c. 93, s. 49; 2000, c. 29, s. 626.
99. Subject to all other legal provisions, the treasurer shall deposit, in any legally constituted bank, savings and credit union or trust company which may be designated by the council, the moneys arising from municipal taxes or dues, and all other moneys belonging to the municipality, and shall allow them to remain there until they are employed for the purposes for which they were levied, or until disposed of by the council.
He may also, with the prior authorization of the council, invest such moneys for short terms in any legally constituted bank, savings and credit union or trust company which may be designated by the council, or purchase securities issued or guaranteed by the Government of Canada, the Gouvernement du Québec or the government of another Canadian province or securities issued or guaranteed by a municipality or by a mandatary body of a municipality or a supramunicipal body within the meaning of sections 18 and 19 of the Act respecting the Pension Plan of Elected Municipal Officers (chapter R-9.3).
The council may invest the moneys mentioned in the first paragraph in the purchase of shares in an unincorporated mutual fund which is managed by a financial institution, and all the shares of which are held by municipalities, by bodies referred to in section 18 of the Act respecting the Pension Plan of Elected Municipal Officers, by school boards or by two or more of such entities. The investments made by such a fund must be limited to those set out in the second paragraph.
The Minister may, by regulation, determine other securities in which the council may invest, through the agency of the unincorporated mutual fund referred to in the third paragraph, the moneys mentioned in the first paragraph, or determine the forms of investment in which the council may invest the moneys through the agency of such a fund.
R. S. 1964, c. 193, s. 95; 1968, c. 55, s. 31; 1979, c. 36, s. 62; 1992, c. 27, s. 2; 1994, c. 33, s. 7; 1996, c. 77, s. 12; 1997, c. 41, s. 65; 1997, c. 93, s. 49.
99. Subject to all other legal provisions, the treasurer shall deposit, in any legally constituted bank, savings and credit union or trust company which may be designated by the council, the moneys arising from municipal taxes or dues, and all other moneys belonging to the municipality, and shall allow them to remain there until they are employed for the purposes for which they were levied, or until disposed of by the council.
He may also, with the prior authorization of the council, invest such moneys for short terms in any legally constituted bank, savings and credit union or trust company which may be designated by the council, or purchase securities issued or guaranteed by the Government of Canada, the Gouvernement du Québec or the government of another Canadian province or securities issued or guaranteed by a municipality or by a mandatary body of a municipality or a supramunicipal body within the meaning of sections 18 and 19 of the Act respecting the Pension Plan of Elected Municipal Officers (chapter R-9.3).
The council may invest the moneys mentioned in the first paragraph in the purchase of shares in an unincorporated mutual fund which is managed by a financial institution, and all the shares of which are held by municipalities, by bodies referred to in section 18 of the Act respecting the Pension Plan of Elected Municipal Officers, or by municipalities and such bodies. The investments made by such a fund must be limited to those set out in the second paragraph.
The Minister may, by regulation, determine other securities in which the council may invest, through the agency of the unincorporated mutual fund referred to in the third paragraph, the moneys mentioned in the first paragraph, or determine the forms of investment in which the council may invest the moneys through the agency of such a fund.
R. S. 1964, c. 193, s. 95; 1968, c. 55, s. 31; 1979, c. 36, s. 62; 1992, c. 27, s. 2; 1994, c. 33, s. 7; 1996, c. 77, s. 12; 1997, c. 41, s. 65.
99. Subject to all other legal provisions, the treasurer shall deposit, in any legally constituted bank, savings and credit union or trust company which may be designated by the council, the moneys arising from municipal taxes or dues, and all other moneys belonging to the municipality, and shall allow them to remain there until they are employed for the purposes for which they were levied, or until disposed of by the council.
He may also, with the prior authorization of the council, invest such moneys for short terms in any legally constituted bank, savings and credit union or trust company which may be designated by the council, or purchase securities issued or guaranteed by the Government of Canada, the Gouvernement du Québec or the government of another Canadian province or securities issued by a municipality or by a mandatary body of a municipality or a supramunicipal body within the meaning of sections 18 and 19 of the Act respecting the Pension Plan of Elected Municipal Officers (chapter R-9.3).
The council may invest the moneys mentioned in the first paragraph in the purchase of shares in an unincorporated mutual fund which is managed by a financial institution, and all the shares of which are held by municipalities, by bodies referred to in section 18 of the Act respecting the Pension Plan of Elected Municipal Officers, or by municipalities and such bodies. The investments made by such a fund must be limited to those set out in the second paragraph.
The Minister may, by regulation, determine other securities in which the council may invest, through the agency of the unincorporated mutual fund referred to in the third paragraph, the moneys mentioned in the first paragraph, or determine the forms of investment in which the council may invest the moneys through the agency of such a fund.
R. S. 1964, c. 193, s. 95; 1968, c. 55, s. 31; 1979, c. 36, s. 62; 1992, c. 27, s. 2; 1994, c. 33, s. 7; 1996, c. 77, s. 12.
99. Subject to all other legal provisions, the treasurer shall deposit, in any legally constituted bank, savings and credit union or trust company which may be designated by the council, the moneys arising from municipal taxes or dues, and all other moneys belonging to the municipality, and shall allow them to remain there until they are employed for the purposes for which they were levied, or until disposed of by the council.
He may also, with the prior authorization of the council, invest such moneys for short terms in any legally constituted bank, savings and credit union or trust company which may be designated by the council, or purchase securities issued or guaranteed by the Government of Canada, the Gouvernement du Québec or the government of another Canadian province or securities issued by a municipality or by a mandatary body of a municipality or a supramunicipal body within the meaning of sections 18 and 19 of the Act respecting the Pension Plan of Elected Municipal Officers (chapter R-9.3).
The council may invest the moneys mentioned in the first paragraph in the purchase of shares in an unincorporated mutual fund which is managed by a financial institution, and all the shares of which are held by municipalities. The investments made by such a fund must be limited to those set out in the second paragraph.
The Minister may, by regulation, determine other securities in which the council may invest, through the agency of the unincorporated mutual fund referred to in the third paragraph, the moneys mentioned in the first paragraph, or determine the forms of investment in which the council may invest the moneys through the agency of such a fund.
R. S. 1964, c. 193, s. 95; 1968, c. 55, s. 31; 1979, c. 36, s. 62; 1992, c. 27, s. 2; 1994, c. 33, s. 7.
99. Subject to all other legal provisions, the treasurer shall deposit, in any legally constituted bank, savings and credit union or trust company which may be designated by the council, the moneys arising from municipal taxes or dues, and all other moneys belonging to the municipality, and shall allow them to remain there until they are employed for the purposes for which they were levied, or until disposed of by the council.
He may also, with the prior authorization of the council, invest such moneys for short terms in any legally constituted bank, savings and credit union or trust company which may be designated by the council, or purchase securities issued or guaranteed by the Government of Canada, the Gouvernement du Québec or the government of another Canadian province or securities issued by a municipality or by a mandatary body of a municipality or a supramunicipal body within the meaning of sections 18 and 19 of the Act respecting the Pension Plan of Elected Municipal Officers (chapter R-9.3).
R. S. 1964, c. 193, s. 95; 1968, c. 55, s. 31; 1979, c. 36, s. 62; 1992, c. 27, s. 2.
99. Subject to all other legal provisions, the treasurer shall deposit, in any legally constituted bank, savings and credit union or trust company which may be designated by the council, the moneys arising from municipal taxes or dues, and all other moneys belonging to the municipality, and shall allow them to remain there until they are employed for the purposes for which they were levied, or until disposed of by the council.
He may also, with the prior authorization of the council, invest such moneys for short terms in any legally constituted bank, savings and credit union or trust company which may be designated by the council, or purchase securities issued or guaranteed by the Government of Canada, the Gouvernement du Québec or the government of another Canadian province.
R. S. 1964, c. 193, s. 95; 1968, c. 55, s. 31; 1979, c. 36, s. 62.
99. Subject to all other legal provisions, the treasurer shall deposit, in any legally constituted bank, savings and credit union or trust company which may be designated by the council, the moneys arising from municipal taxes or dues, and all other moneys belonging to the municipality, and shall allow them to remain there until they are employed for the purposes for which they were levied, or until disposed of by the council.
R. S. 1964, c. 193, s. 95; 1968, c. 55, s. 31.