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        Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.

        Provisions expressly mentioned in the judgment/order text.

        <h1>Municipal debt eligibility: requires surplus income or board-specified criteria, no recent defaults, positive net worth for corporate entities.</h1> Regulation 4 is amended: (c) municipalities must have surplus income in any of the immediately preceding three financial years or meet other Board-specified financial criteria, and corporate municipal entities must not have had negative net worth in those years; (d) municipalities must not have defaulted on repayment of debt securities or bank/financial institution loans during the preceding year. If the issuer is a corporate municipal entity, the municipality being financed must comply with clauses (b) and (d).

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