Notwithstanding anything contained in Section 142, the Municipality may, where the raising of a loan is sanctioned by the State Government under that Section, instead of raising such loan or any part thereof, take credit, on such terms as may be approved by the State Government, from any scheduled bank, to be kept in a cash account bearing the name of the Municipality to the extent of such loan or any part thereof and, with the sanction of the State Government, may grant mortgage of all or any of the properties vested in the Municipality by way of securing the repayment of the amount of such credit or of the sums advanced from time to time on such cash account with interest.
Section 143: Power of Municipality to open credit account with bank
Rajasthan Municipalities Act, 2009State Rules of Rajasthan · 2009
Where this provision sits
| Act | Rajasthan Municipalities Act, 2009 |
|---|---|
| Section | 143 |
| Marginal note | Power of Municipality to open credit account with bank |
| Jurisdiction | State of Rajasthan |
| Status | In force as published by the source |
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