Section 126(3) in The Mumbai Municipal Corporation Act, 1888
(3)In budget estimate B the [Standing Committee] [hese words were substituted by Maharashtra 27 of 1999, Section 58, (w.e.f. 23-4-1999).] shall, if necessary, make proposals to meet any deficit in such budget estimate by borrowing:Provided that the standing committee shall not make any proposal to borrow for that purpose a sum of more than twenty lakhs of rupees.[* * * * * *] [Sub-sections (3A) and (3B) were deleted by Maharashtra 1 of 1964, Section 6(c).]
