Sri Lanka Consolidated Acts

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Development Councils Act (No. 35 of 1980) - Sect 29

Money borrowed charged on revenue of Council

29.
(1) All moneys borrowed by a Development Council under this Act shall be charged indifferently on all the taxes, property and revenue of the Council.
(2) Subject to the provisions of this section, all mortgages created by a Development Council under this Act shall rank equally without any priority.

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