Amendment status not verified — confirm the current text below against the official source.
(1) An appropriate authority may for the purpose of a development plan or for the making or execution of a town planning scheme borrow moneys and if the appropriate authority is a local authority the money shall be borrowed in accordance with the provisions of the Act under which the local authority is constituted or if such Act does not contain any provision for such borrowing, in accordance with the Local Authorities Loans Act, 1914, or as the case may be, the Saurashtra Local Authorities Loans Act, 1951. 9 of 1914. Sau. XVIII of 1951.