Section 97(3) in Karnataka Municipal Corporations Act, 1976
(3)Government may, in addition to or instead of directing the levy or increase of any of the said taxes, direct by notification that any sum or money which may in their opinion be required for giving effect to their orders be borrowed by debenture and on the security of all or any of the said taxes at such rate of interest and upon such terms as to the time of re-payment and otherwise as may be specified in the notification.
