Section 26 in The Gujarat Secondary and Higher Secondary Education Act, 1972
26. Power of Board to borrow.
(1)The Board may, subject to such conditions as may be prescribed in this behalf, borrow money in the open market or otherwise with a view to providing itself with adequate resources.(2)All moneys borrowed under sub-section (1) may be guaranteed by the State Government as to the repayment of principal and the payment of interest at such rates and on such conditions as the State Government may determine at the time the moneys are borrowed.(3)The Board may also accept deposits from institutions or general public for the purpose of providing itself with adequate resources.
