Section 26U. Priorities of liabilities of the Board

The revenues of the Board shall, after meeting its expenses, be applied, as far as they are available, in the following order, namely — (i) the repayment of principal amount of and interest on bonds not guaranteed by the State Government ; (ii) the repayment of principal amount of and interest on bonds not guaranteed by the State Government ; (iii) the repayment of principal amount of and interest on bonds guaranteed by the State Government ; (iv) the repayment of principal amount of and interest on stock so guaranteed ; (v) the repayment of principal amount of and interest on sums paid by the State Government under guarantees, if any ; (vi) the repayment of principal amount of and interest on loans advanced to the Board by the State Government including arrears of such interest.