(1)For the purpose of investment of any portion of the Municipal Fund, including sinking fund in the debentures issued by the Municipality for raising a loan, the Municipality may, within the limits set by the Comprehensive Debt Limitation Policy framed under Section 106, reserve and set apart any portion of such debentures for issue at par thereto in the name of the Municipality, provided that the intention so to reserve and set apart such debentures shall have been notified as a condition of raising the loan.
