BCMADA Rules 127Chapter VIII · Miscellaneous

Section 127 · Power to raise funds

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(a)

The Authority shall be competent to borrow money from any source as follows or raise funds by resorting to following methods, for purposes of discharging its functions and responsibilities required under the provisions of the Act, for purposes of borrowing money from the following sources, the Authority shall be competent by giving in security, if necessary any property of the Authority-
(i)Any Nationalised Bank.
(ii)Public undertaking under the Central or State Government.
(iv)Local bodies.
(v)Central Government.
(v)Any statutory body under the Central Government, and State Government.

(b)

Authority may also raise funds by resorting to any or all the following methods :-
(i)By inviting public contribution or participation particularly from the beneficiaries in any scheme.
(ii)By inviting voluntary contribution in cash.
(iii)Any other similar scheme thought expedient by the Authority for speedy implementation of any particular Development work:
Provided prior sanction of the State Government is obtained.

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