104(1)A local government may make by-laws for municipal purposes respecting economic development.
104(2)Subject to subsection (6), a local government may encourage economic development in any manner it considers appropriate, including
(a)
the establishment, expansion or continuation of a business or industry located within its territorial limits,
(b)
the sale or lease of land within its territorial limits at a price below market value,
(c)
the provision of grants.
104(3)A local government may make a grant under this section even though only a part of the local government or only some of its residents may benefit from the grant.
104(4)A local government shall not make a grant under this section that directly reduces or reimburses the taxes or utility charges paid or payable to the local government by the recipient of the grant.
104(5)When making or refusing to make a grant under this section, a local government may differentiate between potential recipients as to the making of the grant, the amount of the grant or any terms and conditions imposed on the grant.
104(6)A local government shall not do any of the following things for the purpose of encouraging economic development:
(a)
acquire or hold securities;
(b)
provide loans or guarantees; or
(c)
borrow money.
104(7)For the purposes of this section, a local government may enter into an agreement with
104(1)A local government may make by-laws for municipal purposes respecting economic development.
104(2)Subject to subsection (6), a local government may encourage economic development in any manner it considers appropriate, including
(a)
the establishment, expansion or continuation of a business or industry located within its territorial limits,
(b)
the sale or lease of land within its territorial limits at a price below market value,
(c)
the provision of grants.
104(3)A local government may make a grant under this section even though only a part of the local government or only some of its residents may benefit from the grant.
104(4)A local government shall not make a grant under this section that directly reduces or reimburses the taxes or utility charges paid or payable to the local government by the recipient of the grant.
104(5)When making or refusing to make a grant under this section, a local government may differentiate between potential recipients as to the making of the grant, the amount of the grant or any terms and conditions imposed on the grant.
104(6)A local government shall not do any of the following things for the purpose of encouraging economic development:
(a)
acquire or hold securities;
(b)
provide loans or guarantees; or
(c)
borrow money.
104(7)For the purposes of this section, a local government may enter into an agreement with