Taluk Panchayat may raise loans and form a sinking fund.

220. Taluk Panchayat may raise loans and form a sinking fund. - A Taluk Panchayat may, with the previous sanction of the Government and subject to the conditions imp osed by it from time to time, raise loans for the execution of any work or for the purposes of carrying out any of the provisions of this Act and form a sinking fund in the prescribed manner for the repayment of such loans.