(1) The Authority may, in pursuance of a resolution passed at a meeting, borrow by way of loan, debenture or otherwise, on the security of all or any of the fees and dues authorized by or under the Act, any sums of money which may be required,--
(a) for the construction of works,
(b) for the acquisition of lands and buildings, or
(c) to pay off any debt to the Government, or
(d) to repay a loan previously raised under the Act or any other law previously in force: Provided that,- [i) no loan shall be raised without the previous sanction of the Government, and [ii) the amount of the loan, the rate of interest and the terms including the date of floating, the time and method of repayment and other matters shall be subject to the approval of the Government.
(2) When any sum of money has been borrowed under sub-rule (1),-
(a) no portion thereof shall, without the previous sanction of the Government be applied to any purpose other than that for which it was borrowed;
(b) no portion of any sum of money borrowed under clause (a) of the sub-rule (1) shall be applied to the payment of salaries or allowances to the officers or servants of the Authority other than those exclusively employed for the construction of works of which the money was borrowed;
(c) every correction or alteration in accounts shall be made neatly in red ink (single line being drawn through the original entry and be corrected, and attested by the initials of the Accounts Officer. All corrections and alterations in books and vouchers shall likewise be attested. Erasures, whiteners shall be absolutely forbidden and no document with use of an erasure or whitener, unless duly attested, shall be accepted.
(d) All sums received in the office of the Authority or paid into any 8 Major h d Minor head
(a) Allowance and fees to the Chairperson and (i) Allowances or fees to the Chairperson or members of the Authority.
members
(b) Pay of establishment (i) Pay of Commissioner
(ii) Pay of establishment
(c) Allowances (i) Traveling Allowance
(ii) Other Allowances
(d) Contingencies (i) Rent rates and taxes
(ii) Postage and Telegrams
(iii) Stationery
(iv) Books and Periodicals
(v) Electric & lighting charges
(vi) Telephone charges
(vii) Printing charges
(viii) Furniture
(ix) Miscellaneous
(e) Law charges (i) Lawyers fees
(ii) Stamp charges
(iii) Court fees
(f) Loans and Advances (i) Repayment of loans
(ii) Interest on loans
(iii) Loans and advances
(g) Other charges (i) Grants and Scholarships
(ii) Capital expenditure on loans and buildings
(iii) Maintenance and repairs
(iv) Purchase of securities, debentures stock or other valuables.
Bank to the credit of the Authority shall be taken into account under the appropriate head and the entries shall be initialed by the Accounts Officer and the Commissioner of the Authority.
(3) In the preparation and control of any bills, travelling allowance bills and contingent bills, the rules contained in the State Financial Code and in the State Treasury Code shall apply.
(4) Postage stamps shall be purchased and issued for use in the Authority’s office. The charges for postage stamps shall be drawn on separate contingent bills.
(5) The expenditure shall be classified under the following major and minor heads:- 9
CHAPTER XI ACCOUNTS AND AUDIT