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D-7 - Act respecting municipal debts and loans

Section 7
Disposition versions

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7. The moneys realized from a loan made by any municipality shall be applied exclusively to the purposes for which they are intended. If they exceed the amount required for such purposes, the excess may be applied to other purposes specified in a subsequent by-law, approved in the same manner as a loan by-law in accordance with the Act governing the municipality.
R. S. 1964, c. 171, s. 7; 1973, c. 33, s. 3; 1984, c. 38, s. 147; 1996, c. 2, s. 635.
7. The moneys realized from a loan made by any municipal corporation shall be applied exclusively to the purposes for which they are intended. If they exceed the amount required for such purposes, the excess may be applied to other purposes specified in a subsequent by-law, approved in the same manner as a loan by-law in accordance with the Act governing the municipality.
R. S. 1964, c. 171, s. 7; 1973, c. 33, s. 3; 1984, c. 38, s. 147.
7. The moneys realized from a loan made by any municipality incorporated by special act or in virtue of a general act shall be applied exclusively to the purpose for which they are intended, provided, however, that if they exceed the amount required for such purpose, the excess may be applied to other purposes specified in a subsequent by-law of the council, approved in the same manner as a loan by-law in accordance with the act governing the municipality.
R. S. 1964, c. 171, s. 7; 1973, c. 33, s. 3.
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