27.1. The Société has authority to pursue the objects contemplated in paragraphs 4 and 5 of section 18 only if a municipality has made an application to it to that effect and if the Minister of Municipal Affairs, Regions and Land Occupancy has given his approval to the projected development or control works described in the application and determined the financial obligations of the Government in respect of the works.
Once the conditions have been fulfilled, the Société shall make an agreement with the municipality concordant with the terms approved and determined by the Minister pursuant to the first paragraph.
The making of the agreement confers on the Société the right to require the execution in its favour of the financial obligations contemplated in the first paragraph up to the amount provided for in the agreement for works financed by the Société.
1985, c. 3, s. 8; 1994, c. 17, s. 68; 1999, c. 40, s. 298; 1999, c. 43, s. 13; 2003, c. 19, s. 250; 2005, c. 28, s. 196; 2009, c. 26, s. 109.