Amendment status not verified — confirm the current text below against the official source.
Form and effect of debentures.— All debentures issued under this chapter shall be in such form as the Municipality may, with the previous sanction of the Government, determine, and shall be transferrable in such manner as shall be therein expressed and the right to sue in respect of the money secured by any of such debentures shall vest in the holders thereof for the time being without any preference by reason of some such debentures being prior in date to others.