Section 97 in Tamil Nadu State Housing Board Act, 1961
97. Repayment of loans taken under section 91.
- Every loan taken by the Board shall be repaid by the Board within the period agreed upon by the, Board and subject to the provisions of sub-section (2) of section 114 by such of the following net hods as may be approved by the Government, namely:-(a)from a sinking fund established under section 98 in respect of the loan; or(b)by paying in equal yearly or half-yearly installments of principal or of principal and interest, throughout the said period; or(c)if the Board has, before borrowing money on debentures, reserved by public notice, a power to pay off the loan by periodical installments and, to select by lot the particular debentures to be discharged at particular periods, then, by paying such installments at such periods; or(d)from money borrowed for the purpose; or(e)partly from the sinking fund established under section 98 in respect of the loan, and partly from money borrowed for the purpose.
