Power of Municipality to raise short-term loan.

Notwithstanding anything contained in this chapter, the Municipality may, from time to time, take a short-term loan repayable within such period, not exceeding twelve months, from any other nationalized bank for such purpose, not being a purpose referred to in sub-section (1) of section 67, on such terms, and on furnishing such security for the repayment of such loan, as may be approved by the State Government.