section 299
Limitation on borrowing power
The Kerala Municipality Act, 1994Infrastructure1994558 of 560 sections available28 chapters
Chapter XIV TAXATION AND FINANCE
Statutory text
Limitation on borrowing power.—
- (1) Notwithstanding anything contained in the forgoing provisions the borrowing powers of a Municipality shall be as prescribed, in relation to the total annual receipts of that Municipality. Provided that nothing contained in this section shall prevent the issuance of Revenue Bonds by the Municipality, secured by pledge of the revenue stream from the project and strengthened on the basis of escrow account or credit enhancement conditions:
Study data processing for this section.
Some statutory text is still being prepared for this language version.
PDF: pending for this language.