Amendment status not verified — confirm the current text below against the official source.
(1) The Authority may, for the purpose of carrying out its functions under this Act, from time to time, raise loans, by the issue of debentures or otherwise, of such sums of money, at such rates of interest, for such period, and upon such terms (as to the time and method of repayment, and the like) as the State Government may sanction. (2) All loans under sub-section (1) shall be guaranteed by the State Government as to repayment of the principal and pay- ment-of interest. The Calcutta Metropolitan Water and Sanitation Authority Act, 1966. XIII of 19661 (Chapter VI.—Revenue, Finance, Accounts, Audit and Budget. —Sections 31-33.)