APPENDIX II. Application for Permission to Guarantee Interest

(See Rule 7)

  1. Purpose for which the payment of interest is to be guaranteed.
  2. Cost of the work or the expenditure to be incurred for the purpose and probable amount as interest to be guaranteed.
  3. Whether the interest is to be guaranteed severally or in conjunction with any other local authority.
  4. If in conjunction with any other local authority, the name of the local authority concerned.
  5. The probable return that may be received by the local authority on the completion of the work, if it is a remunerative one.
  6. The fund or the portion of the fund on the security of which the interest is to be guaranteed.
  7. The law under which the said fund is levied, received or held.
  8. The date within which the interest is to be guaranteed.
  9. The rate of interest to be guaranteed.
  10. The term of the years for which the guarantee has to be given.
  11. Account of the financial position of the Municipality.
  12. A statement of the prior loans outstanding repayment and the method of their repayment.