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S-25 - Agricultural Societies Act

Section 70
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70. Every municipality may grant money or land in aid of any agricultural or horticultural society or of any incorporated mechanics’ institute in its territory, and may guarantee the payment of the capital and interest of any bonds of any such society or institute, and accept any security for the repayment of any payment made by it, in consequence thereof. No such guarantee shall exceed 5 % of the total value, entered on the real estate assessment roll in force when the guarantee is granted, of the immovables situated in the territory of the said municipality.
R. S. 1964, c. 112, s. 70; 1996, c. 2, s. 934.
70. Any city, town, village, county, parish or township municipality may grant money or land in aid of any agricultural or horticultural society or of any incorporated mechanics’ institute within such municipality, and may guarantee the payment of the capital and interest of any bonds of any such society or institute, and accept any security for the repayment of any payment made by it, in consequence thereof. No such guarantee shall exceed five per cent of the total amount of the valuation roll of the said municipality.
R. S. 1964, c. 112, s. 70.
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