Amendment status not verified — confirm the current text below against the official source.
Comprehensive Debt Limitation Policy.- (1)The City Corporation shall frame a Comprehensive Debt Limitation Policy applicable in the case of loans, including short term loans, to be raised by the City Corporations and laying down the general principles governing the raising of loans by the City Corporation having regard to its financial capacity. (2) The City Corporation may borrow by way of loan or any other form of credit provided such loan or credit is permitted under the Comprehensive Debt Limitation Policy.