section 138
Power to discontinue payment towards Sinking Fund
The Jharkhand Municipal Act 2011Infrastructure2011619 sections2 chapters
Part III FINANCIAL MANAGEMENT OF MUNICIPALITIES
Statutory text
If, at any time, the sum standing at the credit of a Sinking Fund established under section 136 for the repayment of any loan is of such amount that if allowed to accumulate at the rate of interest sanctioned under the first proviso to sub-section (1) of section 133, it will be sufficient to pay off the loan within the period approved by the State Government under the said proviso, further payments towards such fund may be discontinued.
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