C-37.3 - Act respecting the Communauté urbaine de Québec

Section 160 Disposition versions

1994-01-01

160. The Community may, by resolution, order temporary loans for the payment of current administration expenses and contract them on the conditions and for the term it determines.

The Community may also contract loans under the first paragraph for the payment of all or part of the expenses made under a loan by-law.

1969, c. 83, s. 202; 1971, c. 88, s. 31; 1977, c. 5, s. 14; 1984, c. 38, s. 124; 1993, c. 67, s. 65.

1985-01-01

160. The Community may, by resolution, order temporary loans for the payment of current administration expenses and contract them on the conditions and for the term it determines.

The Community may also contract loans under the first paragraph for the payment of all or part of the expenses made under a loan by-law. If, in that case, the amount exceeds 90% of that of the securities the issue of which is authorized by the by-law, the Community shall obtain prior authorization from the Minister.

The Council may, by by-law, delegate to the executive committee the powers of the Community under the first two paragraphs.

1969, c. 83, s. 202; 1971, c. 88, s. 31; 1977, c. 5, s. 14; 1984, c. 38, s. 124.

0001-01-01

160. The loans of the Community shall be ordered by by-law, except in the case of loans by notes the term for repayment of which does not exceed one year; in that case, a mere resolution approved by the Commission municipale du Québec shall be sufficient.

However, when a loan has been ordered by a by-law of the Community, the executive committee may make any temporary loan with the approval of the Commission municipale du Québec for such term and on such conditions as it deems expedient while awaiting conclusion of the permanent loan.

1969, c. 83, s. 202; 1971, c. 88, s. 31; 1977, c. 5, s. 14.