Amendment status not verified — confirm the current text below against the official source.
Notwithstanding anything contained in this chapter, the Municipality may, within the limits set by the comprehensive debt limitation policy framed under section 108, from time to time take a short-term loan repayable within such period not exceeding twelve months, from any other scheduled bank, for such purpose, not being a purpose referred to in subsection (1) of section 109, on such terms, and on furnishing such security for the repayment of such loan. as ma be approved by the State Government.