If a loan raised is not repayable t>Y,3.l1_I}!1!tl~,~}~L3!}!.l~_<!L9X~~~g!.._~~~.panchayat shall establish - - - a sinking fund in the following manner, namely :- - '- - .. .---. -.----.-----.------ .(a) It shall payout of its income, yearl~, or half yearly, into such fund a sum which accumulating at such rate of compound interest as the State Government may fix will be sufficient to secure the liquidation of the loan within the term fixed for its repayment;
.(b) It shall make the first of such payments within one year from the date of taking or raising the loan, unless the sanctioning authority other- Wi'sedirects; and . (c) It shall submit the account of its sinking fund annually to the ----...:'-~-Accouritant General Madhya Pradesh-and to-the Director Panchayats-,-- ------ .and at the Accountant General certify that the fund is deficient, then tbePanchayat shall meet that deficiency from its own income immedi- .ately. " .