Power of Board to borrow

(1) The Board may, from time to time, with the previous sanction of the State Government and subject to the provisions of this Act and such conditions as may be prescribed in this behalf, borrow any sum required for the purpose of this Act. (2) The State Government may make rules to enable the Board to borrow by issuing debentures and to make an arrangement with banking. (3) All debentures issued by the Board shall be in such form as the Board shall determine, with the sanction of the State Government. (4) Every debenture shall be signed by the Chairman and one other member of the Board. (5) The sums borrowed and debentures issued under this section may be guaranteed by the State Government as to repayment of principal and interest as such amount by the State Government as may be determined through payment of interest by the State Government. (1) The Board shall, before such date and in such form and in such time as may be prescribed, submit to the State Government a report as such matters as the State Government may prescribe. (2) The report shall be laid on the Tripura Legislative Assembly as soon as it is received by the State Government.