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C-27.1 - Municipal Code of Québec

Section 1090
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1090. Where, owing to an advance in the rate of interest between the date of a loan by-law passed before 1 November 1916, and the date of the sale or other disposal of the bonds issued under such by-law, they or any of them cannot be sold or disposed of except at a discount involving a substantial reduction in the amount provided for by the by-law, the municipal council may, with the approval of the Lieutenant-Governor and without submitting the same for the approval of the municipal electors, pass a by-law to amend the first mentioned by-law by providing for an increased rate of interest, and also, if necessary, for a corresponding increase in the special annual tax imposed by such by-law.
M.C. 1916, a. 782.
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