Amendment status not verified — confirm the current text below against the official source.
(1) The muncipality shall maintain sinking fund for the repayment oi I md tOvsr(- mney borrowed on debentures issued and shall pay by quarterly instalments I mont of into suah sinking fund and such sum as will be suffiaient for the payment within I ,j&&~ fud. tbd period fired for the loan of all monies borrowed on debentures issued. I (2) All monias paid into the sinking fund shall be invested ' aab applied hv tl-ff Commissioner in suab manner as may be prescribed. hfdtY 4