Housing and Rentals Act
CHAPTER 212 OF THE REVISED STATUTES, 1989
An Act Respecting
Housing and Rentals
1 This Act may be cited as the Housing and Rentals Act. R.S., c. 212,s. 1.
Agreement by Minister
2 Subject to the approval of the Governor in Council, the Ministerof Municipal Affairs is authorized and empowered to enter intoagreements for the purposes specified in subsections 79(1) and (2) of theNational Housing Act (Canada), and with Her Majesty in right ofCanada, the Government of Canada or any agency thereof including theCanada Mortgage and Housing Corporation or any combination of suchparties and any city, town or municipality. R.S., c. 212, s. 2.
3 Such agreement shall provide that the capital cost of any projectand the profits or losses thereon shall be shared seventy-five per cent bythe Government of Canada or an agency thereof including the CanadaMortgage and Housing Corporation and twenty-five per cent by the city,town or municipality. R.S., c. 212, s. 3.
Agreement by municipality
4 Any city, town or municipality may, pursuant to a resolution of itscouncil, enter into and perform an agreement made in accordance withSections 2 and 3 of this Act and for the purposes of this Act and anyagreement made thereunder shall be an agency of the Government of theProvince for the performance of whose covenants under such agreementthe Government of the Province shall be directly responsible. R.S., c. 212,s. 4.
Source of funds
5 Any sums required for the carrying out of any such agreement oragreements shall be deemed to be sums required for a city, town ormunicipal purpose within the meaning of the Municipal Affairs Act andany sum required for the payment of losses if any incurred in theoperation of any such project shall be held to be sums required for theordinary lawful purposes of the city, town or municipality and shall beraised, levied and collected in the same manner and in all respects asother sums required for the ordinary lawful purposes of the city, town ormunicipality are raised, levied and collected. R.S., c. 212, s. 5.