Section 39 in The Gujarat Water Supply and Sewerage Board Act, 1978
39. Power to borrow and re-lend.
(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 to such conditions as the State Government may, by general or special order, impose, borrow any moneys required for the purposes of this Act by making arrangements with the Banks or other bodies or institutions approved by the State Government for this purpose.(2)The Board may advance any part of such borrowings to any local body for the performance of its duties and discharge of its functions relating to water supply and sewerage services on such terms and conditions as the Board may determine.(3)[ Notwithstanding that this Act does not extend to Cities and notwithstanding anything contained in sub-section (1), the Board may from time to time at the request of the Municipal Corporation of a City, constituted under the Bombay Provincial Municipal Corporations Act, 1949 (Bombay LIX of 1949) and with the previous sanction of the State Government and subject to such conditions as the State Government may, by general or special order, impose, borrow any money required by the Municipal Corporation for any scheme for providing water supply and sewerage facilities undertaken by that Corporation, by making arrangement with the banks or other bodies or institutions approved by the State Government for this purpose, and advance the moneys so borrowed to the Corporation for the purpose of such scheme on such terms and conditions as may be approved by the State Government.] [Sub-section (3) inserted by Gujarat 26 of 1980, dated 22nd October, 1980.]
