O. Reg. 293/09: BANK LOANS

 

ontario regulation 293/09

made under the

municipal act, 2001

Made: July 15, 2009
Filed: July 31, 2009
Published on e-Laws: August 5, 2009
Printed in The Ontario Gazette: August 15, 2009

Amending O. Reg. 276/02

(Bank Loans)

1. Paragraph 5 of section 5 of Ontario Regulation 276/02 is amended by striking out “Subsection 408 (3)” and substituting “Subsections 408 (2.1) and (3)”.

2. Subsection 6 (1) of the Regulation is revoked and the following substituted:

Application of funds

(1) Money received by a municipality from a bank loan and any earnings derived from the investment of that money shall be applied only for the purposes for which the bank loan agreement was entered into.

3. This Regulation comes into force on the day it is filed.