Amendment status not verified — confirm the current text below against the official source.
(1) The Board shaH have its own fund which shall be deemed 10 be a local fund and to which shall be credited all moneys received by or on behalf of the Board. 46 TI1E ASSAM GAZETTE. EXTRl\ORDtNARY, JAN: 9, I-9S7 (2) The Budgetary p·rovisions hitherto being made in the State Budget in the Public l~ealth Engineering Organisation, Urban Development Department such as Municipal Administration Department and Town and Country ·. Planning Department for construction and maintenance of Urban Water Supply, Sewerage. and Drainage, shall . continue to be · provided in the budget for the . current firiancial year and the amounts of these provisions as may be considered necessary by the· State Government shall be transferred to the Board's fund on such terms and conditions as may· be decided by the State Goverpment. · (3) ·The expenditure on the Board· will be debited to a new sub-head of Account "Water Supply and Sewerage Board'' to be opened under ''284 ·Urban Development-a General ( 1) B-Other State Plan Schemes and. Non-Plan I-A Direction a~d . Administration ~.:..._General ·- ;\~rilin~straiton (a) Directorate of Mumctpa-1 Admm1strat10n" by the Government. · (4) EXtCept as otherwise directed by the State ~Government, · all moneys belonging to the Board's fund shall . be deposited either in the State Bank of India or in such other Scheduled . :aank, or invested in suc.h securities, as may be approved by the State Government. · · -~nest.(j~~~'d- 25· ( 1) Save as ~here in the opinion of the Board · geted Ex- circumstances of extreme urgericy have arisen, no penditure. · sum exceeding five lakh's of rupees on account of recurring expenditure or exceeding fifteen lakhs of rupee~ on account of non-recurring expenditure shall })e spent by the Boa~d in, an~ financial year unless such sum has "!Jeen mcluded m a statement submitted under sub-section (1) of Section 39. (2) Where any such sum in spent in drum- stances of extreme urgency a report thereon, in- 4icating the source . from which · it is proposed to meet . the . expenditure shall be made as soon as practicable to the Government, THF !\.SSAivi GAZETTE, EXTRAORDINARY, JAR 9, 1987 47 ~ne~a}