Singapore legislation
Section 54
Section 54
Power to borrow
Amended by17/2017
A Town Council may raise any loan, chargeable upon and payable out of the revenues and assets of the Town Council, of such sums of money as may be required for —
(a)
the purposes of meeting expenses or liabilities in respect of any works specified in section 47(5)(a) or (8)(a);
(b)
the repayment of any loan previously raised for any such purposes; and
(c)
such other purposes as may be prescribed.[40