Amendment status not verified — confirm the current text below against the official source.
The State Government shall frame a comprehensive debt limitation policy applicable in the case of loans, including short- term loans, to be raised by the Municipalities. laying down, inter alia, the general principles governing the raising of loans by the Municipalities, the limit of the loans which any Municipality may raise having regard to its financial capacity, the rate of interest Compulsory Acquisition of land. Special provisions for acquisition of lands adjoining streets. Disposal of property. Inventory of properties of Municipality. Comprehensive debt limitation policy. to be paid for such loans, and the terms and conditions, including the period of repayment thereof.