54 (1) The Board has jurisdiction and power in relation to municipal affairs, approving borrowings (a) to approve the exercise in whole or in part of any of the powers by a municipality under any general or special Act that may or will involve or require the borrowing of money by the issue of debentures, or the incurring of any debt or the issuing of any debentures, which approval the municipality voluntarily applies for or is required by law to obtain; approving by-laws (b) to approve any by-law or proposed by-law of a municipality, which approval the municipality voluntarily applies for or is required by law to obtain; floating debt (c) to authorize the issue by a municipality, without the assent of the electors, of debentures to pay any floating indebtedness that it may have incurred, upon such terms, in such manner and at such times as the Board may approve, or to direct that such floating indebtedness be paid in such other manner and within such time as the Board may require. callable debentures (d) to authorize the issue by a municipality, without the assent of the electors, of debentures to retire debentures that are redeemable before maturity, and the raising of the sum required for payment of such new debentures in the same manner as the sum required for payment of the retired debentures; certifying validity of debentures (e) to certify to the validity of debentures issued under the authority of any by-law of a municipality that the Board has approved; assent of electors to by-laws (f) to direct that before any approval is given by the Board to the exercise of any powers by a municipality or to any by-law passed by it, or before any authorization is given by the Board to the issue by a municipality of debentures to pay any floating indebtedness, the assent of the electors thereof or of those thereof who are qualified to vote on money by-laws first be obtained, even though such assent is not otherwise requisite; supervising certain expenditures (g) to supervise, where considered necessary, the expenditure of any money borrowed by a municipality with the approval of the Board; detailed statement of affairs (h) to require and obtain from any municipality at any time and for any definite period statements in detail of any of its affairs, financial and otherwise; power of investigation (i) to inquire at any time into any or all of the affairs, financial and otherwise, of a municipality and hold such hearings and make such investigations in respect thereof as may appear necessary or expedient to be made in the interest of the municipality, its ratepayers, inhabitants and creditors and particularly to make and hold such inquiries, hearings and investigations for the purpose of avoiding any default or recurrence of a default by any municipality in meeting its obligations; settlement of disputes between municipalities (j) when authorized by an agreement heretofore or hereafter entered into by two or more municipalities in which the municipalities agree to be bound by the decision of the Board, to hear and determine disputes in relation to such agreement; water or sewage service (k) where water or sewage service is supplied or to be supplied by one municipality to another municipality, to hear and determine the application of either municipality to confirm, vary or fix rates charged or to be charged in connection with such water or sewage service; general (l) generally, to exercise such jurisdiction and powers as by or under the authority of this Act or the Municipal Act, 2001 or the City of Toronto Act, 2006 or any other general or special Act are conferred upon the Board.  R.S.O. 1990, c. O.28, s. 54 (1); 2002, c. 17, Sched. F, Table; 2006, c. 32, Sched. C, s. 43 (2). Conflict (2) Clauses (1) (c) and (d) have effect despite any general or special Act.  R.S.O. 1990, c. O.28, s. 54 (2). Section Amendments with date in force (d/m/y) 2002, c. 17, Sched. F, Table - 01/01/2003 2006, c. 32, Sched. C, s. 43 (2) - 01/01/2007