Section 14 in The Goa Information Technology Development Rules, 2011
14. Temporary borrowing by the Corporation.
- The Corporation may, for the purpose of meeting any current expenditure properly chargeable to revenue, borrow by way of temporary loan or overdraft from any bank or otherwise, such sums as it may require on such terms and conditions as the Corporation thinks fit and will have to follow instruction issued by Finance Department from time to time. The amount so borrowed together with the interest thereon, shall be repaid from current revenues within a period of twelve months from the date of temporary borrowing.
