section 163
Maintenance and investment of sinking funds.
The Punjab Municipal Corporation Act, 1976Infrastructure1976412 sections21 chapters
Chapter VIII Chapter VIII
Statutory text
Maintenance and investment of sinking funds. (1) The Corporation shall maintain sinking funds for the repayment of money borrowed on debentures issued and shall pay every year into such sinking funds such sum as will be sufficient for the repayment within the period fixed for the loan of all moneys borrowed on the debentures issued (2) All moneys paid into the sinking funds shall, as soon as possible, be invested
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