Section 77 in The Andhra Pradesh Municipalities (Preparation of Accounts) Rules, 2017
77. Sinking Fund/Escrow Account.
(1)Where the terms for raising loan or issuing bonds/debentures provide the establishment of Sinking Fund or creation of Escrow Account, the amounts stipulated in the terms of sanction shall be transferred from the General Funds to the Sinking Fund or Escrow Account.(2)The purpose of establishing Sinking Fund or creation of Escrow Account is to accumulate money, adequate to repay the loan or bonds/debentures as per schedule.(3)The amounts to be transferred include the revenues raised through the infrastructure provided by utilizing the loan or bonds and a share of general funds.(4)Separate bank accounts shall be maintained for Sinking Fund and Escrow Account.(5)The Register of Sinking Fund shall be maintained in Form BR 3
