Section 157(1) in Uttar Pradesh Municipal Corporation Act, 1959
(1)Whenever the repayment of a loan from a sinking fund has been sanctioned under proviso (ii) to sub-section (1) of Section 154, the Corporation shall establish such a fund and shall pay into it, on such dates as may have been approved under the said proviso, such sum as will, with accumulations of compound interest, be sufficient after payment of all expenses to pay off the loan within the period approved:Provided that if at any time the sum standing to the credit of the sinking fund established for the repayment of any loan is of such amount that, if allowed to accumulate at compound interest it will be sufficient to repay the loan within the period approved, then with the permission of the State Government further payments into such fund may be discontinued.
