Section 176 in The Coimbatore City Municipal Corporation Act, 1981
176. Limit of borrowing powers.
- Notwithstanding anything hereinbefore contained, the borrowing powers of the corporation shall be limited so that the sum payable annually for interest and for the maintenance of the sinking funds as hereinafter provided, and for interest and repayment of any sums borrowed otherwise shall not, except with the express sanction of the Government exceed twelve and a half per cent of the annual value of buildings and lands as determined under Chapter V.
