Section 27 in The Himachal Pradesh Housing and Urban Development Authority Act, 2004
27. Power of the Authority to borrow.
(1)The Authority may, from time to time, with the previous sanction of the State Government, borrow money from any source by issue of bonds, debentures, loans or such other instruments, on such terms and conditions, as it may deem fit, for the purposes of this Act.(2)Every debenture, bond or instrument shall be signed by the officer duly authorized by the Authority.(3)The Authority may, from time to time, on the request of the State Government, raise loans to it for execution of any work or scheme.(4)The State Government may give guarantee subject to such conditions as it thinks fit, for the repayment of the principal and the payment of interest thereon with respect to the money borrowed under sub-section(1) or loan raised under sub-section (3), by the Authority.
