Amendment status not verified — confirm the current text below against the official source.
Notwithstanding anything contained in section 134. the Corporation may, when the raising of a loan is sanctioned by the State Government under that scclion. instead of raising such loan or any part thereof, Hike credit, on such terms as may he approved by llic Stale Government, from any scheduled bank on a cash account Lo be kepi in the name or the '[Kolkutal Municipal Corporalion Cash Account Lo the extent of such loan or any part [hereof and, wiih Lhe sancLion of the State Government, may granl mortgages of all or any of the properties vested iii the Corporation hy way of securing the repayment of the amount of such credit or ol'the sums advanced from lime to lime on such cash account with interest.