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BALUCHISTAN LOCAL GOVERNMENT ORDINANCE, 1980 BALUCHISTAN LOCAL GOVERNMENT ORDINANCE, 1980 CHAPTER XII‑LOCAL FUND AND PROPERTY 64. Loans.‑(I) A Local Council may, with the previous sanction of Government, under a general or special order with such conditions as may be necessary and subject to the provisions of this Ordinance or any other law, raise loans. (2) The loans under subsection (1) may be raised by the issue of bills of promissory notes or on the security for immovable property vested in a Local Council or of all or any of the taxes and dues authorised by this Ordinance ; provided that the bills or promissory notes so issued shall be payable within any period not exceeding twenty‑four months. (3) The loans raised by a Local Council may be spent on the carrying out of any works which it is legally authorised to carry out acquisition of land and running of commercial schemes or for payment of a loan raised under this Ordinance or any loan or debt for the repayment of which a Local Council is liable ; provided that the money borrowed under this Ordinance or a portion thereof shall not be applied to any purpose other than that for which it was borrowed. (4) If any money borrowed in accordance with the provisions of this Ordinance or any interest or cost due in respect thereof, is or are not repaid according to the conditions of the loans, the Government may, attach the funds on the security of which loan was made. After such attachment, no person except an officer appointed in this behalf by the Government shall in any way deal with the attached funds, but such officer may do all acts in respect thereof of which the borrowers might have done if such attachment had not taken place, and may apply the proceeds in satisfaction of the loan and of all interest and costs due in respect thereof all expenses caused by the attachment and subsequent proceedings; Provided that no such' attachment shall defeat of prejudice any debt for which the funds attached were previously pledged in accordance with this Ordinance but all such prior charges shall be paid out of the proceeds or the funds before any part of the proceeds is applied to the satisfaction of the liability in respect of which attachment is made. (5) The Government may establish a Local Councils Development Loan Fund and may require Local Councils to contribute to such fund and may regulate the operation of such fund in the prescribed manner.