State Act

The Maharashtra Municipal Councils, Nagar Panchayats and Industrial Townships Act, 1965.

90D. When and how loan shall be repaid.— Every loan raised by the Council under section 90C shall be repaid within the time approved under proviso to sub-section (1) of the said section and by such of the following methods as may be approved under the said proviso, namely :— (a) by payment from a sinking fund established under section 90E in respect of the loan; (b) by equal payments of principal and interest; (c) by equal payments of principal; (d) in the case of a loan borrowed before the appointed day by annual drawings if such method was in operation for the repayment of such loan immediately before such day; (e) from any sum borrowed for the purpose under clause (b) of sub-section (1) of section 90C; or (f) partly from a sinking fund established under section 90E in respect of the loan and partly from money borrowed for the purpose under clause (b) of sub-section (1) of section 90C.