C-27.1 - Municipal Code of Québec

Section 1093 Disposition versions

2005-06-17

2003-12-18

1999-10-27

1996-05-08

1992-06-23

1985-01-01

0001-01-01

1093. Notwithstanding the provisions of this Title, every corporation has power to borrow from time to time on notes, by a mere resolution and without other formality, the amounts required to meet the unforeseen and immediate needs of the corporation. Such loans must not be for a longer period than one year, and the council must collect and repay the sums so borrowed within the same period of one year.

Notwithstanding the provisions of this Title, every corporation which has work done, wholly or partly subsidized by the Gouvernement du Québec, may likewise, by by-law authorizing an issue of bills or notes for such purpose, borrow an amount of not more than the subsidy for the same period of time as that fixed for the payment of such subsidy. Such by-law is not subject to the approval of the electors who are property-owners, but must, before coming into force, be approved by the Minister of Municipal Affairs and by the Commission municipale du Québec.

Every infringement of this article shall render each member of the council in default liable to a fine of $100 recoverable by an ordinary action.

Such action may be taken by any ratepayer, in his own name, or by the corporation.

M.C. 1916, a. 784; 1927, c. 74, s. 16; 1947, c. 77, s. 35; 1977, c. 5, s. 14.