I-14 - The Education Act for Cree, Inuit and Naskapi Native Persons

Full text
218. (Repealed).
R. S. 1964, c. 235, s. 230; 1971, c. 67, s. 48; 1981, c. 27, s. 4.
218. Any school corporation may also, with the authorization of the Minister of Education and of the Minister of Municipal Affairs, borrow moneys and, for such purpose, issue bonds or debentures or notes, but only in virtue and under the authority of a resolution indicating:
(1)  The objects for which the loan is to be contracted;
(2)  The total amount of the issue;
(3)  The term of the loan;
(4)  The maximum rate of interest that may be paid;
(5)  All other details relating to the issue and to the loan.
The Minister of Municipal Affairs may require from the school corporation all other information he may deem proper.
The Minister of Municipal Affairs may, on the recommendation of the Minister of Education, amend a loan resolution submitted for his approval, upon application therefor contained in a subsequent resolution of the school corporation which passed the said resolution and without the necessity of the giving of the public notices prescribed by section 293, provided that such amendments do not change the object of the loan and do not increase the amount of the loan, and that they neither extend nor shorten the term for reimbursement.
R. S. 1964, c. 235, s. 230; 1971, c. 67, s. 48.