Amendment status not verified — confirm the current text below against the official source.
( I ) -rI'tiz Coip~fation may, ffdm time to timc, with the previods sanction fation of the SLatc GovzrLlm:nt and subject L3 thi: pidvisions of this Act and LO such IO zmw oondicions as mly ba pnicribzd in this bshalf, barrow any sum required for tho andgurao- purpo,ses of thi9 Act. , . , , Lte of loans. . . .. _ . . , , , , - . . . ' I I I . (2) ~ u l k &dc' by th5 ' ~ t a t c ' Givzr'nrrient' for' th.e'iurpajes of this secti--'. may empower the Corporation to borrow by the issue of bjnds or sLock or otharfnise. I . (3) The malti&um, amdunt ' which the ~ o b o ~ a t i s n may at any time have' on loan uadar 3ub-3e:tion-'(I) slldl b : 6 fty. ~r3rs3 of rup3:5; unless 'tha Statc Govcrpment- with the appraval of tho State hgislativa Assembly, fixes a higher maximum amount- , , . . I ' .,- - . . -. (fl'The State bvirnmedt AD suanotee in r ~ c d ' manner ar it thinks 6t *j&, payment of the princrpal and interest of any 1031-1 proposed to be raised by the Corporation or of either tho principal .or the.interest; , Provided [hat the Stalo Cfovernment shall, so long as any such guarantees rn in form, -lay - 'befor the Stat? Legislature in every 'year during thc:6nt season of the LigisIature, a Statement of the' gurantees, if any, given-during the current financial yar and an u?-t~-3at3 acc3ant of the total sum, if any, 'which have bzenpaid out of or into , the Slate Revenues by reaso~of any such Grantees or paid iutci the State Revenues towards. rcp1ym:nt of any money so paid., out. , ,