Section 100(2) in The U.P. Kshettra Panchayats And Zila Panchayats Adhiniyam, 1961
(2)Subject to the provisions of Section 31 of the Reserve Bank of India Act, 1934 (Act II of 1934) and with the previous sanction of the State Government a Zila Panchayat may raise loans in the open market by the issue of debentures in the manner and for the objects and subject to the conditions, including the condition of maintaining a sinking fund, to be prescribed by rules.
