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ACT XI OF 1991 ACT XI OF 1991 BAHAWALPUR DEVELOPMENT AUTHORITY ACT, 1991 An Act to provide for the establishment of Bahawalpur Development Authority [Gazette of Punjab, Extraordinary, 9th October, 1991] No. Legis. 2(5)/91/53, dated 9-10-1991: -The Bahawalpur Development Authority Bill, 1991, having been passed by the Provincial Assembly of the Punjab on the 2nd day of October, 1991 and assented to by the Governor of the Punjab on the 6th day of October, 1991 is hereby published as an Act of the Provincial Assembly of the Punjab. 16. Borrowing money.---(1) The Authority shall be deemed to be a Local Authority for the purpose of borrowing move and any scheme or project prepared or undertaken by the Authority shall be deemed to be `work' as defined in section 2 of the local Authorities Loans Act, 1914: Provided that no local or foreign loan shall be obtained by the Authority without the previous sanction of the Government. (2) The Authority may, in consultation with the Finance Department, Government of the Punjab, borrow money or raise funds by issuing bonds or debentures or otherwise for carrying out the purposes of this Act at such rate of interest as may be approved by the Government.