Section 159(1) in Uttar Pradesh Municipal Corporation Act, 1959
(1)In respect of any sinking funds which by this Act the Corporation is directed or authorized to invest in Public securities and in respect of any surplus moneys which by this Act the Municipal Commissioner on behalf of the Corporation is empowered to invest in the securities, it shall be lawful for the Corporation to reserve and set apart for the purpose of any such investment, any debentures issued or to be issued on account of any loan for which the sanction of the State Government shall have been duly obtained:Provided that the intention so to reserve and set apart such debentures shall have been notified to the State Government as a condition of the issue of the loan.
