Amendment status not verified — confirm the current text below against the official source.
Power of the Board to borrow and lend. (a) The Board may, from time to time, with the previous sanction of the Government and subject to such conditions as the Government may by general or special order determine, borrow any sum required for the purposes of this Act. (b) For the purpose of such borrowing the Board may issue any financial instrument including General Obligation Bonds, Revenue Obligation Bonds or any other appropriate financial instruments or raise funds through any financial structures including Revenue Bonds with structured repayment mechanism, Land Bonds and any other appropriate financial instruments or by making arrangements with Banks, Multilateral Funding Agencies or Institutions approved by the Government in that behalf. (c) The Board may act as the sponsor for setting up infrastructure investment structures, as are required for facilitating the mobilization of resources for a project or group of projects. Explanations-For the purpose of this sub-section, the infrastructure investment structures may include, but are not limited to Alternate Investment Fund (AIF), Infrastructure Investment Trust (InVlT), Mutual Funds and Infrastructure Development Fund (IDF). (d) The Financial instruments and securities issued by the Board under this section shall be issued, transferred, dealt with or redeemed in such manner as decided by the Board subject to the directions of the Government.