44.This division applies only to loans contracted and issues of bonds made by a school corporation or the Conseil scolaire de l’île de Montréal before 8 March 1982 or by a municipal corporation, under by-laws or resolutions passed after 3 March 1918.
44.This division shall apply only to the loans contracted, or issues of bonds made, by a municipal or school corporation, under by-laws or resolutions passed after the 3rd of March, 1918.