(1) Where in the opinion of the Board, circumstances of extreme urgetnicy have arisen it shall be lawful for the Board to make in any year,— ,(4).Jgcupping,expenditure not exceeding fifty thousand rupees, and
(b) non-recurring expenditure not exceeding two lakhs of rupees.
,-:(2)17dilicre;a1Y-j$N,W *igliPWIa under circumstances of extreme urgency asip.nOvidnd:101$04.0Qt.imtliloa-opurt thereof indicating the source Antn, proposed to tpendittu-bsh,Ill be made by t~te Aoard-as soon as pir#p009, wie.;
MAYffPrOIROPrtiflICM*PillIVII0911§; andv:eitis36 t.011101inalitlkofitherP. ID . v. - (14; tki$A091§!.1011t9Msaa1494ifIclif)PAN! Mt the Board. ' ttte.;$14W,G9NIPIPPAt PIO till: 0 fl "Ail() ?if !IP
(2) The State GovemitienthatiOr&itliiiintitininadWatialibanS,1041in) 4pAr49RAvicilxrpR,s',494c90k0PiwRA i9smiAteintwitti*Ort*rs 1:#411400,4 S.WP.9,MCPPIC4PR F,IMREOPPO (-4 f)„ 111')?,7-liq • (frIlieBbarti lii8y.frol 1)11Mt tbitinithiwi&-.Cesproviouslsanatibal Power of deb Staid ddirthlrildntidild4libjear6411110n3n.liSi64V0flitfiS ADValld>ta Board to borrow.
St WI VA:Witt-6E1g a§'-bray? 1S6)ptesdrilwil titOrthig Iiithitti) bolt& i ilnqi sum required for the purposes of this Act,filifirM f00 !,) 7 1:•?)noi Application of the fund.
Expenditure in case of urgency.
r8t Accounts and audit.
Concurrent and special audits of accounts.
The West Bengal Housing Board Act, 1972.
[West Ben. Act (Chapter V.—Finance, accounts and audit.—Sections 35, 36.)
(2) The rules made by the State Government for the purposes of this section may empower the Board to borrow by the issue of debentures and to make arrangements with bankers.
(3) All debentures issued by the Board shall be in such form as the Board, with the sanction of the State Government, may from time to time determine.
(4) Every debenture shall be signed by the Chairman and one other member of the Board.
(5) Loans borrowed and debentures issued under this section may be guaranteed by the State Government as to the repayment of principal and the payment of interest at such rate as may be fixed by the State Government.