Section 21 in Bombay Metropolitan Region Development Authority Act, 1974
21. Power to Metropolitan Authority to borrow. - The Metropolitan Authority may, with the previous approval of the State Government, borrow any moneys for carrying out the purpose of this Act or for servicing any loan obtained by it, at such rates and on such conditions as the State Government may determine at the time the moneys are borrowed.
[21A. Power to Metropolitan Authority to finance projects and schemes and impose condition therefor. - The Metropolitan Authority shall be competent to give grants, advances or loans to, or to share expenses with any local authority or other authority in the Metropolitan Region for any of the purposes of section 12, and notwithstanding anything contained [but subject to the restrictions (if any)] contained in the [Mumbai Municipal Corporation Act] it shall be lawful for such other authority to accept such grants, advances or loans or share in the expenses, subject to such terms and conditions as the Metropolitan Authority may, from time to time, in consultation with such other authority, specify.].[21B. State guarantee to loans taken or given by Authority. - The State Government may guarantee repayment of the principal of, and interest on, any loan raised or given by the Metropolitan Authority or transferred to it, for the purposes of this Act, subject to such conditions as the State Government may think fit to impose.].
