RTA · Municipal Government Act
Part 8 — Financial Administration
266 Guarantee bylaw
loan between a lender and a non-profit organization or one of its
controlled corporations if the guarantee is authorized by bylaw.
(2) The bylaw authorizing the guarantee must set out
(a) the amount of money to be borrowed under the loan to be
guaranteed and, in general terms, the purpose for which the
money is borrowed;
(b) the rate of interest under the loan or how the rate of interest
is calculated, the term and the terms of repayment of the
loan;
RSA 2000
Section 268 MUNICIPAL GOVERNMENT ACT Chapter M-26
188
(c) the source or sources of the money to be used to pay the
principal and interest owing under the loan if the
municipality is required to do so under the guarantee.
(3) The bylaw that authorizes the guarantee must be advertised.
1994 cM-26.1 s266
267 Repealed 1998 c24 s14.