Section 25 in The Calcutta Metropolitan Water And Sanitation Authority Act, 1966
25. Authority to contribute towards debentures and other loans. -
The debentures issued and other loans incurred with an original maturity of more than one year by the municipal corporations, municipalities and the Board of Trustees for the improvement of Howrah for acquiring or constructing the properties and assets vested in the Authority under this Chapter and remaining unpaid on the date of vesting shall continue to be the liabilities of the respective municipal corporations, municipalities and the Board of Trustees, but the Authority shall pay annually to each such municipal corporation or municipality or to the Board of Trustees the amount payable by it on account of interest and repayment of such debentures and other loans :Provided, however, that with respect to the first of such payment to each municipal corporation or municipality or to the Board of Trustees, the amount payable by the Authority pursuant to this section shall be calculated as from the date of vesting.
