Section 86 in The Orissa Town Planning and Improvement Trust Act, 1956
86. Planning authority to be local authority within the meaning of Local Authorities Loans Act, 1914.
(1)The Planning authorities shall be deemed to be a Local authority as defined in the Local Authorities Loans Act, IX of 1914 for the purposes of borrowing money under that Act but the provisions of that Act and of the Rules made thereunder shall have effect subject to the provisions in this Act.(2)The Planning authority shall also have power to borrow money from the State Government on such terms as may be approved by them.
