64 (1) Where under any general or special Act it is requisite that the assent of the electors of a municipality or of those qualified to vote on money by-laws first be obtained to the exercise by a municipality of any of its powers or the incurring of any debt, issue of any debentures or passing of any by-law the Board shall not approve the exercise of such power, incurring of debt, issue of debentures or the by-law until such assent has been obtained, unless the Board after due inquiry is satisfied that such assent may under all the circumstances properly be dispensed with, and the Board may, in any such case by its order, declare and direct that the assent of the electors or the qualified electors shall not be requisite to be obtained despite the provisions of such general or special Act. Public hearing (2) Except as provided in subsections (3), (4) and (5), the Board before making any order under subsection (1) shall hold a public hearing, after such notice thereof has been given as the Board may direct, for the purpose of inquiring into the merits of the matter and of hearing any objections that any person may desire to bring to the attention of the Board. Notice to provide for filing of objections (3) The Board may direct that the notice to be given shall state that anyone objecting to dispensing with the assent of the electors may, within such time from the giving of the notice as may be prescribed by the Board, file with the clerk of the municipality or, in the case of a local board, with the secretary of the local board his, her or its objection to dispensing with the assent of the electors. Where no objections (4) Where notice has been given under subsection (3), the Board may, when no notice of objection has been filed within the time specified in the notice, dispense with the assent of the electors without holding a public hearing. Where objections filed (5) If one or more objections have been filed within the time specified in the notice, the Board shall hold a public hearing unless, under all the circumstances affecting the matter, the Board considers the objection or, if more than one, all the objections to be insufficient to require a public hearing. Public hearing not required where additional expenditure approved (6) Despite subsection (2), where the Board has approved an expenditure for any purpose, it may, without holding a public hearing, dispense with the assent of the electors of a municipality or of those qualified to vote on money by-laws and approve additional expenditures for the same purpose not in excess of 25 per cent of the original expenditure approved. Conditions in dispensing with vote (7) The Board in making any order under subsection (1) dispensing with the necessity for obtaining the assent of the electors or qualified electors may impose such terms, conditions and restrictions not only in respect of the matter in which such order is made, but as to any further or subsequent exercise of any of the powers of the municipality or incurring of any other debt or issue of any other debentures or passing of any other by-law by such municipality as to the Board may appear requisite or expedient.  R.S.O. 1990, c. O.28, s. 64.