Section 29 in Tamil Nadu Farmers' Management of Irrigation Systems Act, 2000
29. Sinking fund.
(1)The managing committee of the farmers organisation shall maintain a sinking fund for the repayment of moneys borrowed and shall pay every year into the sinking fund such sum as may be sufficient for repayment, within the period fixed, of all moneys so borrowed.(2)The sinking fund or any part thereof shall be applied in or towards, the discharge of the loan for which such fund was created, and until such loan is wholly discharged, it shall not be applied for any other purpose.
