Bare ActsThe calcutta municipal corporation act, 1980

Section 145

Amendment status not verified — confirm the current text below against the official source.

(I) The Corporation shall establish a separate Sinking Fund in respeci of each loan raised under scclion 134 and shall crcdillusueh fund every six months a sum which shall be so calculated that if regularly paid, such sum together with lhe compound interest accruing thereon would be sufficient, after payment of all expenses, lo pay off the loan within the period approved by lhe State Government under the proviso to sub-section (I) of scclion 134, (2) The rate of interest accruing on lhe sum referred io in sub-section {I) shall he such as may be prescribed by lhe Stale Government.

Section 145 – The calcutta municipal corporation act, 1980 | DailyLaw.ai