Section 107(7) in Andhra Pradesh Metropolitan Region and Urban Development Authorities Act, 2016
(7)The Authority may, from time to time borrow by way of temporary loan or overdraft from a bank or otherwise, any sum which it may temporarily require,-(a)for the purpose of defraying expenses pending the receipt of revenues receivable by it in respect of the period of account in which those expenses are chargeable; or(b)for the purpose of defraying, pending the receipt of money due in respect of a loan authorized to be raised under sub-section (4), expenses intended to be defrayed by such loan.
