Section 145 in The Calcutta Municipal Corporation Act, 1980
145. Establishment and maintenance of Sinking Funds for loans. -
(1)The Corporation shall establish a separate Sinking fund in respect of each loan raised under section 134 and shall credit to such fund every six months a sum which shall be so calculated that if regularly paid, such sum together with the compound interest accruing thereon would be sufficient, after payment of all expenses, to pay off the loan within the period approved by the State Government under the proviso to sub-section (1) of section 134.(2)The rate of interest accruing on the sum referred to in sub-section (1) shall be such as may be prescribed by the State Government.
