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 141 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 sub-section (1) of section 142, on such terms, and on furnishing such security for the repayment of such loan, as may be approved by the State Government