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


(1) The Chairperson shall, at the end of every year,
submit to the Council a statement showing--

(a) the amount which has been invested during the year under section 131;

(b) the date of the last investment made previous to the submission of the statement;

(c) the aggregate amount of the securities then in his hand; and

(d) the aggregate amount which has up to the date of the statement been applied under section
132, in or towards discharging loans.

(2) Every such statement shall be published in the Official Gazette.


LAWGIST

# 133 Annual statement by Chairperson