(1)Whenever it appears to the Board to be expedient to contract any loan for the purpose of the temple or its endowments, it shall submit its proposal to the State Government and shall obtain prior sanction of the State Government before entering into any such transaction.(2)All such proposals shall be accompanied by full particulars and information on the following points:-(a)Reasons necessitating raising of loan;(b)Amount of the loan proposed to be raised:(c)The source from which it is proposed to be raised;(d)The property which will be offered as security for the due discharge of the loan: and(e)The manner and the installments in which the loan is proposed to be repaid.(3)The State Government may impose such conditions and give such directions while according sanction to any proposal for loan as it may deem fit.
