12(1)Notwithstanding the Municipal Debentures Act, where by any Act of the Legislature authority has been granted to a municipality to issue debentures, part of which is to be used for the financing of a sewage treatment project, that part of the borrowing may be repaid in accordance with such agreement as may be entered into between a municipality and the Central Mortgage and Housing Corporation.

12(2)For the purposes of this section, “sewage treatment project” means a sewage treatment project as defined in Part VIII of the National Housing Act, chapter N-10 of the Revised Statutes of Canada, 1970.

12(1)Notwithstanding the Municipal Debentures Act, where by any Act of the Legislature authority has been granted to a municipality to issue debentures, part of which is to be used for the financing of a sewage treatment project, that part of the borrowing may be repaid in accordance with such agreement as may be entered into between a municipality and the Central Mortgage and Housing Corporation.

12(2)For the purposes of this section, “sewage treatment project” means a sewage treatment project as defined in Part VIII of the National Housing Act, chapter N-10 of the Revised Statutes of Canada, 1970.