The New Delhi Municipal Council Act

Power of Council to borrow

Time for repayment of money borrowed under section 126

Form and effect of debenture

Payment to survivors of joint payees

Receipt by joint holders for interest or dividend

Maintenance and investment of sinking funds

Application of sinking funds

Annual statement by Chairperson

Power of Council to consolidate loans

Priority of payment for interest and repayment of loans over other payments

Power to make regulations


BORROWING


The time for the repayment of
any money borrowed under section 126 shall in no case exceed sixty years and the time for repayment of
any money borrowed for the purpose of discharging any previous loan shall not, except with the express
sanction of Central Government, extend beyond the unexpired portion of the period for which such
previous loan was sanctioned.


LAWGIST

# 127 Time for repayment of money borrowed under section 126