State Act
186
Section 186. Limit of borrowing powers.
THE BRUHAT BENGALURU MAHANAGARA PALIKE ACT, 2020
Act no. 53 of 20202020Repealed 15 May 2025Karnataka (State Act)
This Act was repealed on 15 May 2025 by the Greater Bengaluru Governance Act, 2024 (Karnataka Act 36 of 2025), s.361(1); it may still apply to matters that began before then.
186. Limit of borrowing powers.- Notwithstanding anything hereinafter contained, the borrowing powers of the corporation shall be limited so that the sum payable annually for interest and for the maintenance of the sinking funds as hereinafter provided, and for interest and repayment of any sums borrowed otherwise shall not, except with the express sanction of the Government, exceed ten percent of the rateable value of buildings and lands as determined under this Act.