Notification No. 6/2008, Dated 14-1-2008
In exercise of the powers conferred by sub-clause (vii) of clause ( 15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the bond with the following particulars for the purpose of the said sub-clause, namely :—
| (a) | Name of the bond | — | Tax-free Pooled Finance Development Bonds under Pooled Finance Development Fund Scheme of Government of India. |
| (b) | Issuing authority | — | Water and Sanitation Pooled Fund, Tamil Nadu designated as State Pooled Finance Entity for the State of Tamil Nadu. |
| (c) | Purpose | — | To part fund the projects implemented by seven Urban Local Bodies under Water Supply Scheme and Under Ground Sewerage Scheme of Tamil Nadu. |
| (d) | Tenure of the Bond | — | Ten years with five years principal moratorium. |
| (e) | Total issue size | — | Forty-five crore rupees. |
| (f) | Interest | — | Not exceeding 8 per cent per annum. |
2. The said Bonds are specified subject to :—
(i) the conditions laid down in the Guidelines for the Pooled Finance Development Scheme notified vide Resolution No. K-14011/40/01-UD II (Vol. III) dated 25th October, 2006 of the Ministry of Urban Development and the Guidelines for issue of tax-free Pooled Finance Development Bonds circulated vide OM F. No. K-14011/40/01-UD II (Vol. IV) dated 7th June, 2007 of the Ministry of Urban Development; and
(ii) the condition that they are issued within a period of twelve months from the date of publication of this notification in the Official Gazette.
