Section 111 in The Bombay Provincial Municipal Corporations Act, 1949
111. When and how loan shall be repaid. - Every loan raised by the Corporation under section 109 shall be repaid within the time approved under proviso (ii) to subsection (1) of the said section and by such of the following methods as may be approved under the said proviso, namely:-
(a)by payment from a sinking fund established under section 112 in respect of the loan;(b)by equal payments of principal and interest;(c)by equal payments of principal;(d)in the case of a loan borrowed before the appointed day by annual drawings if such method was in operation for the repayment of such loan immediately before such day;(e)from any sum borrowed for the purpose under section 109(1)(b); or(f)partly from a sinking fund established under section 112 in respect of the loan and partly from money borrowed for the purpose under section 109(1) (b).
