Section 117(1) in The M.P. Municipal Corporation Act, 1956
(1)For the purpose of investing any portion of the municipal fund; including the sinking funds, the Corporation may reserve and set apart for issue at par, to and in the name of Corporation, any portion of the debentures to he issued on account of any loan, provided that the intention to reserve and set apart such debentures shall have been notified as a condition of the issue of the loan.
