Section 81 in Guwahati Metropolitan Development Authority Act, 1985
81. Sinking fund.
(1)The authority shall maintain a sinking fund for the repayment of money borrowed of floated or issuing debenture by it.(2)The money paid into the sinking fund shall be invested in such manner and in such securities as may be prescribed.(3)The sinking fund or any part thereof shall be applied in or towards, the discharge of the loan or part thereof for which such fund is created and until such loan or part thereof is wholly discharged the money standing to the credit of the fund shall be applied for no other purpose.
