Section 150(1)

(1) 1[2[The Corporation]] may, at a meeting, pass a resolution for the
levy of any of the taxes specified in sub-section (2) of section 113, defining the maximum rate of the tax to
be levied, the class o r classes of persons or the description or descriptions of articles and properties to be
taxed, the system of assessment to be adopted and the exemptions, if any, to be granted.