Section 108 in The Mumbai Municipal Corporation Act, 1888
108. Mortgage of taxes or immovable property
(1)The corporation may borrow or re-borrow any such sum as aforesaid from any person other than [the Central or the [State] [The words 'the Central or the Provincial Government' were substituted for the words the Secretary of State for India In Council' by the Adaptation of Indian Laws Order in Council.] Government], on the security of any immovable property belonging to them or proposed to be acquired by them under this Act or of all the taxes or of any tax which they are authorised to levy for the purposes of this Act [or of the Bombay Electric Supply and Transport Undertaking] [These words were inserted by Bombay 48 of 1948, Section 19.] or of all or any of those securities.(2)And for the purpose of securing the repayment of any sum so borrowed, with interest thereon, they may mortgage to the person by or on behalf of whom such sum is advanced any such immovable property or tax [or the said undertaking] [These words were added by Bombay 48 of 1948, Section 19.].
