Panchayat:Repo18/vol2-page0273

THE KERALA LOCAL AUTHORITIES LOANS ACT, 1963 1. Short title, extent and Commencement. ......................................................................... 274 2. Definitions. ....................................................................................................................... 274 3. Borrowing powers of local authorities.............................................................................. 275 3A. Constitution of the Development Fund, financial management and services etc., by Government................................................................................................................. 276 4. Remedy by attachment if loan not repaid....................................................................... 280 5. Power of local authority to guarantee payment of interest on, or to create a fund for repayment of capital expended on any work to which the funds may be applied......... 280 6. Remedy by attachment if engagements not fulfilled....................................................... 280 7. Issue of short term bills. .................................................................................................. 280 8. POWer of Government to make rules............................................................................... 28O 9. Loans not to be effected except under this Act.............................................................. 281 10. Repeal. ............................................................................................................................. 281 THE LOCAL AUTHORITIES LOANS RULES, 1965 1 Short title and Commencement....................................................................................... 282 2. Definitions. ...................................................................................................282 ............................و 3. Limitation of borrowing power. ......................................................................................... 282 4. Nature of the funds on the security of which a local authority may borrow.................... 282 5. Works for which money may be borrowed etc. .............................................................. 282 6. Manner of application for permission to borrow money. ................................................. 282 7. Manner of making application for Sanction to give guarantee. ....................................... 282 8. Inquiries to be made on applications. ............................................................................. 283 9. Rejection of application etc............................................................................................. 283 10. Omitted .................................................................... . 283 11. Disposal of application. ................................................................................................... 283 11A. Omitted............................................................................................................................ 283 12. Power of Government to grant urgent loans.................................................................... 283 13. Conditions relating to non-Government loans................................................................. 283 14. Inspection of Works etc.................................................................................................... 283 15. Grant of Government Loans............................................................................................. 283 16. Control and inspection of Works and accounts............................................................... 284 17. Procedure on attachment................................................................................................ 284 18. Procedure in respect of unexpended balances of loans................................................. 284 19. Interest on Government loans. ........................................................................................ 285 20. Repayment of Government loans.................................................................................... 285 21. ACCounts of Government loans....................................................................................... 285 22. Sinking fund for non-Government loans. ......................................................................... 285 APPENDIX I - Application for Loan.................................................................................. 285 APPENDIX II - Application For Permission to Guarantee Interest.................................. 285 APPENDXIII... 286