Section 66 in Siliguri Municipal Corporation Act, 1990
66. Sinking Fund.
(1)The Corporation shall establish a separate Sinking Fund in respect of each loan raised under section 61 and shall pay into such fund every six months a sum so calculated that if regularly paid, such sum together with the compound interest accrued thereon would be sufficient, after payment of all expenses, to pay off the loan within the period approved by the State Government under the proviso to section 61.(2)The rate of interest at which the sum referred to in sub-section (1) shall be calculated shall be such as may be prescribed.
