Power to borrow

(1) The Committee may, with the previous sanction of the Board, raise the money required for carrying out the purposes for which it is established on the security of any property vested in and belonging to the Committee and of any fees leviable by the Committee under this Act. (2) The Committee may, for the purpose of meeting the initial expenditure on lands, building, and equipments required for establishing the market, obtain loan from the State Government or the Board or other Committees or financial institutions on such conditions, as may be prescribed.