Himachal Pradesh City Transport and Bus Stands Management and Development Authority Act, 1999 20

धारा 20 · Borrowing power of the Authority

(1)

The Authority may, with the consent of the Government or in accordance with the terms of any general or special authority given to it by the Government, borrow money from any source by issue of the bonds, debentures or such other instruments as it may deem fit for discharging all or any of its functions under this Act.

(2)

The Government may guarantee in such manner as it thinks fit the repayment of the principal and the payment of interest thereon with respect to the loans borrowed by the Authority under sub-section (1).

(3)

Subject to such limits as the Government may, from time to time, lay down, the Authority may borrow temporarily by way of over draft or otherwise such amounts as it may require for discharging its functions under this Act.

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