Section 147(1) in Kolkata Municipal Corporation Act, 1980
(1)All moneys credited to a Sinking Fund shall as soon as possible be invested by the Corporation in(a)Government securities, or(b)securities guaranteed by the Central or any State Government, or(c)debentures issued by the Corporation, or(d)debentures issued by the Kolkata Metropolitan Development Authority, or(e)debentures issued by the Trustees for the Improvement of Kolkata, or(f)debentures issued by the Board of Trustees for the Port of Kolkata,(g)such other public securities as may be approved by the State Government, and shall be field by the Corporation for the purpose of repaying, from time to time, the loans raised by it by the issue of debentures or otherwise.
