06 : Notification: 6 Date of Issue: 14/01/2008
Notification No.
06
Notification Date
14/01/2008
Upload Date
14/01/2008
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 :—
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(a)
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Name of the bond
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—
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Tax-free Pooled Finance Development Bonds under Pooled Finance Development Fund Scheme of Government of India.
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(b)
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Issuing authority
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Water and Sanitation Pooled Fund, Tamil Nadu designated as State Pooled Finance Entity for the State of Tamil Nadu.
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(c)
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Purpose
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—
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To part fund the projects implemented by seven Urban Local Bodies under Water Supply Scheme and Under Ground Sewerage Scheme of Tamil Nadu.
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(d)
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Tenure of the Bond
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—
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Ten years with five years principal moratorium.
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(e)
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Total issue size
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Forty-five crore rupees.
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(f)
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Interest
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—
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Not exceeding 8 per cent per annum.
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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.