Section 144. Power of Municipality to raise short-term loan.

Notwithstanding anything contained in this Chapter, the Municipality may, within the limits set by the comprehensive debt limitation policy framed under section 141 from time to time, take a short-term loan repayable within such period, not exceeding twelve months, from any other scheduled bank, for such purpose, not being a purpose referred to in sub-section (1) of section 142, on such terms, and on furnishing such security for the repayment of such loan, as may be approved by the State Government