Section 123 in The Chhattisgarh Municipal Corporation Act, 1956
123. Annual statement to be prepared by Commissioner.
(1)The Commissioner shall at the end of each year prepare a statement showing-(a)the amount and date of borrowing of loans raised by the Corporation which are outstanding and the annual loan charges;(b)in the case of every loan for which a sinking fund has been established under Section 114, the accumulation in the sinking fund at the close of the year, showing separately the amount paid to the credit of the fund in the year;(c)the loans repaid during the year and in the case of loans repaid in instalments or by annual drawings, the amounts repaid during the year and the balance due at the close of the year;(d)the particulars of securities in which the sinking fund have been invested or which have been reserved for the investment of these funds.(2)Every such statement shall be laid before a meeting of the Corporation and a copy of such statement shall be sent to the Government.
