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LOCAL GOVERNMENT ACT (NORTHERN IRELAND) 1972 - SECT 62

Modes of borrowing.

62. Where, under section 61, a council has power to borrow money, it may,
subject to the provisions of this Act, raise the money by any of the following
methods

(a)by mortgage;

(b)by the issue of stock;

(c)by the issue of bonds;

(d)by overdraft from a bank;

(e)by temporary loan or deposit receipt;

(f)by the use, in accordance with section 73, of any money forming part of a
capital fund or renewal and repairs fund established by the council under
section 56;

(g)by means of an agreement with the Ministry of Finance for the advance of
money out of the Government Loans Fund;

(h)by any other method prescribed with the approval of the Ministry of
Finance.

© 1972 Crown Copyright

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