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R-25.01 - Act respecting the Réseau de transport métropolitain
Section 53
Disposition versions
53. The Network may not contract loans unless authorized to do so by the Minister of Municipal Affairs, Regions and Land Occupancy and unless the interest rate and other conditions of the loans are authorized by the Minister of Finance.
The Network may, however, contract temporary loans without the authorizations required under the first paragraph, unless the loans are intended to finance a capital expenditure project for which the Network receives financial assistance from the Government, in which case the interest rate and other conditions of the loans must be authorized by the Minister of Finance.
53. The Network may not contract loans unless authorized to do so by the Minister of Municipal Affairs, Regions and Land Occupancy and unless the interest rate and other conditions of the loans are authorized by the Minister of Finance.
The Network may, however, contract temporary loans without the authorizations required under the first paragraph.
53. The Network may not contract loans unless authorized to do so by the Minister of Municipal Affairs, Regions and Land Occupancy and unless the interest rate and other conditions of the loans are authorized by the Minister of Finance.
The Network may, however, contract temporary loans to pay expenses incurred for its day-to-day administration without the authorizations required under the first paragraph. It may also, with the sole authorization of the Minister of Municipal Affairs, Regions and Land Occupancy, contract such loans to pay any other expenses.
Not in force
53. The Network may not contract loans unless authorized to do so by the Minister of Municipal Affairs, Regions and Land Occupancy and unless the interest rate and other conditions of the loans are authorized by the Minister of Finance.
The Network may, however, contract temporary loans to pay expenses incurred for its day-to-day administration without the authorizations required under the first paragraph. It may also, with the sole authorization of the Minister of Municipal Affairs, Regions and Land Occupancy, contract such loans to pay any other expenses.
