Section 62 in Siliguri Municipal Corporation Act, 1990
62. Limit to the power to raise loan.
- Notwithstanding anything hereinbefore contained, the power of the Corporation to raise a loan shall be so limited that the sums payable under this Act during any year for interest and for the maintenance of Sinking Funds established under this Act shall not exceed fifteen per cent of the annual value of land and buildings as determined under this Act.
