Section 150 in The Calcutta Municipal Corporation Act, 1980
150. Application of Sinking Funds. -
Until any loan is wholly rapid, the Corporation shall not apply the money at the credit of a Sinking Fund established under this Act in respect of such loan for any purpose other than the purpose of repayment of such loan:Provided that when any loan or part thereof raised after the commencement of this Act is consolidated under sub-section (1) of section 143, the Corporation shall transfer to the Sinking Fund established under sub-section (4) of that section the sum standing at the credit of the Sinking Fund in respect of the loan raised prior to such consolidation or, if a part of such loan is consolidated, such part of the sum at the credit of such Sinking Fund as is proportionate to the amount of such loan.
