Urban Renewal Act, 1986

Borrowing by Authority.

15.— (1) The Authority may, with the approval of the Minister, given with the consent of the Minister for Finance, borrow money for the purpose of providing for current or capital purposes.

(2) Any moneys borrowed by the Authority pursuant to this section and any interest accruing thereon may be secured on the revenue, funds or property of the Authority.

(3) The aggregate at any one time of sums borrowed under this section and which have not been repaid shall not exceed £10,000,000.