State Act
109C
Section 109C. Corporation to have power to borrow from banks against Government promissory notes or securities.
The Mumbai Municipal Corporation Act.
Act no. 3 of 18881888In forceMaharashtra (State Act)
109C. Corporation to have power to borrow from banks against Government promissory notes or securities.— Notwithstanding anything contained in sections 106 and 109, the corporation may also borrow, for the purpose of this Act, from any bank or banks in which under section 122 the surplus moneys at the credit of the municipal fund may be deposited, against any Government promissory notes or other securities in which for the time being the cash balance of the corporation may be invested.]