Amendment status not verified — confirm the current text below against the official source.
(1) The council nay, with the previous sanction OF the Government p o w of mudl. and in pursuance of any res.)! .]tion passed at a special meeting borrow any sum dipality to, of money,- burro7 money. ) by war of debentures Ly raising loans from any Scheduled or Nationa- Bank or rom any other Fin,.ncial Institutions or Agendes as may be approyd by tho Government in this behalf, on the security of all or any of the taxes, dufles, fees and dues authorised by or under this Act, for the purposes as may be detm- .mined by the Government; (ji) by way of raising loan from the public by iibile b ~ n d s for incunig specifi 2 items of capita! expenditure. (2) ~h~ amcufit of inan, the rate of interest nnd the terms inoludfng $he date offlotatlo., the time and method of rspayments and the like sbdl b0 mb ~3 to the zppro~al of the Governinsnt. Porm, sfi 1-