Amendment status not verified — confirm the current text below against the official source.
Notwithstanding anything hereinbefore contained, the power of the Corporation to raise a loan shall be so limited that the sums payable under this Act during any year for interest and for the maintenance of Sinking Funds established under this Act shall not exceed fifteen per cent of the annual value of land and buildings as determined under this Act. 282 The Siliguri Municipal Corporation Act, 1990. XXX of 1990.1 (Part 111.—Finance.—Chapter VII.—The Municipal Fund, Budget, Loans, Accounts and Audit.—Sections 63-67.)