Amendment status not verified — confirm the current text below against the official source.
Metropolitan Magistrate.] [Act No. II of 1956] 483 SCHEDULE D. [See section 157]. Form of Debenture. No. for Rs........................... By virtue of the 392[Greater Hyderabad Municipal Corporation] Act, 1955, we the Municipal Corporation of the City of Hyderabad, in consideration of the sum of .............. paid to us by A.B., of ...................... for the purposes of the said Act, promise to pay to the said A.B., his heirs, executors, administrators and assigns, the said sum of ................... together with interest at the rate of ............... per centum per annum payable half-yearly on the ................... day of .............. and ……………. day of.......................... And, by way of security for the said payment, we do hereby grant and assign unto the said A.B., his heirs, executors, administrators and assigns such proportion of the moneys arising or accruing by virtue of the said Act from (the taxes mortgaged) as the sum aforesaid doth or shall bear to the whole sum which is or shall be borrowed on the credit of the said (taxes), to hold to the said A.B., his heirs, executors, administrators and assigns from the day of the date hereof until the sum aforesaid with interest for the same at the rate aforesaid shall be fully paid and satisfied; And it is hereby declared that the said principal sum shall be repaid on the ........ day of ...........19.........at............... (place of payment). Dated this.......................day of................... 19…..