Amendment status not verified — confirm the current text below against the official source.
Application of capital account.— The moneys credited to the capital account shall be held by the Board in trust and shall be applied to— Manual of Goa Laws (Vol. II) – 558 – Housing Board Act & Rules (a) meeting all costs of framing and executing housing, improvement or building schemes; (b) meeting the cost of acquiring lands for carrying out any of the purposes of this Act; (c) meeting the cost of constructing buildings required for carrying out any of the purposes of this Act; (d) the repayment of loans from money borrowed in pursuance of this Act; (e) granting of loans and advances under sections 32 and 67; (f) making payments in pursuance of section 118 otherwise than for interests or for expenses of maintenance or working; (g) making or contributing towards the cost of surveys in pursuance of section 116; (h) meeting such proportion of the cost of management as may be directed by the Board; and (i) temporarily making good the deficit, if any, in the revenue account at the end of any year.