Section 26 in Jammu and Kashmir Metropolitan Region Development Authorities Act, 2018
26. Loan Fund.
(1)As a part of the Metropolitan Region Development Fund, the Authority shall establish in distinct Bank accounts a Loan Fund for the purposes of,-(a)receiving all monies borrowed by it including all repayments of loan instalments together with payment of interest made by the borrower on loans,(b)providing all monies to be made available by the Authority as loans or advances to local authorities and other authorities or persons,(c)repayment of loans raised by the Authority for the purpose of this Act, and(d)expenditure on projects and schemes financed through loans.(2)All matters connected with the Loans Fund shall be governed by the regulations made in this behalf.
