Tax-free pooled finance bonds specified to fund municipal water and sewerage projects, subject to guideline compliance. The Central Government specifies Tax-free Pooled Finance Development Bonds under the Pooled Finance Development Fund Scheme, issued by the Water and Sanitation Pooled Fund, Tamil Nadu as the State Pooled Finance Entity, to part-fund projects by seven Urban Local Bodies for water supply and underground sewerage; tenure is ten years with a five-year principal moratorium and interest capped not exceeding eight percent per annum. Specification is subject to adherence to Ministry of Urban Development guidelines and issuance within twelve months of the notification's gazette publication.