State Act

Jharkhand Municipal Act 2011

150. Use of proceeds from Municipal Bonds - The fund to be raised from the Municipal Bonds shall be used for capital investment for development of urban infrastructure in the spheres of water-supply, sewerage, drainage, solid waste management, markets, roads, bridges, urban transport, and for reforming and improving the efficiency of existing systems of municipal administration and for repayment of loans for the aforesaid purposes raised through earlier issues of municipal bonds or otherwise.