Section 31. Powers to borrow and relend.

31. Powers to borrow and relend.- (1) 1[The Authority] may, from time to time, with the previous sanction of the State Government and subject to the provisions of this Act and to such conditions as the State Government may, by general or special order, impose, borrow any moneys required for the purposes of this Act by making arrangements with the Banks or other bodies or institutions by the State Government for this purpose. (2) 2[The Authority] may advance any part of such borrowings to any local body for the performance of its duties and discharge of its functions relating to water supply and sewerage services on such terms and conditions as 3[the Authority] may determine